WASHINGTON, July 2 -- Internal Revenue Service has issued a proposed rule called: Regulations Under Section 382(h) Related to Built-In Gain and Loss; Withdrawal.
The proposed rule was published in the Federal Register on July 2 by Edward T. Killen, Acting Chief Tax Compliance Officer.
Summary: This document withdraws two notices of proposed rulemaking containing proposed regulations on the treatment of built-in items of income, gain, deduction, and loss taken into account by a loss corporation after an ownership change. The proposed regulations would have affected corporations that experience an ownership change under section 382(h) of the Internal Revenue Code (Code).
For more information, contact Lilia D. Stamm at 202/317-3598 (not a t...