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TREAS/IRS RIN: 1545-BD70 Publication ID: Fall 2008 
Title: Section 704(b)(2); Partner's Distributive Share; and Substantiality 
Abstract: Clarify the substantiality rules under section 1.704-1(b)(2)(iii) as to the impact of the tax consequences to owners or partners on the determination of substantiality. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1   
Legal Authority: 26 USC 704(b)(2)    26 USC 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  11/18/2005  70 FR 69919   
Final Action Completed by TD 9398  05/19/2008  73 FR 28699   
Additional Information: REG-144620-04 Drafting attorneys: Kevin I. Babitz (202) 622-3060 Jonathan E. Cornwell (202) 622-3050 Reviewing attorney: David R. Haglund (202) 622-3050 Treasury attorney: William Bowers (202) 622-5721 CC: PSI
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1545-BB11 
Agency Contact:
Kevin I. Babitz
General Attorney (Tax)
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 5107,
Washington, DC 20224
Phone:202 317-5279
Fax:202 317-6730
Email: kevin.i.babitz@irscounsel.treas.gov

Jonathan E. Cornwell
Attorney-Advisor
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 622-3050
Fax:202 622-3308
Email: jonathan.e.cornwell@irscounsel.treas.gov