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TREAS/IRS | RIN: 1545-BP20 | Publication ID: Spring 2020 |
Title: Guidance Under 481(d)(2), 1371(f) and 1377 | |
Abstract:
This notice of proposed rulemaking provides rules regarding the definition of an eligible terminated S corporation (ETSC) under section 481(d) of the Internal Revenue Code (Code), and the treatment of distribution of money by an ETSC, after the post-termination transition period (PTTP) under the period set forth in section 1371(f) of the Code. In addition, these proposed regulations would revise current regulations addressing the PTTP to extend the treatment of distributions of money to all shareholders of the corporation at the time of the distribution. |
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Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
EO 13771 Designation: Other | |
CFR Citation: 26 CFR 1.481-5 26 CFR 1.481-6 26 CFR 1.1371-1 26 CFR 1.1371-2 26 CFR 1.1377-2(b) ... (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: 26 U.S.C. 7805 26 U.S.C. 481 26 U.S.C. 1371 26 U.S.C. 1377 |
Legal Deadline:
None |
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Timetable:
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Additional Information: REG-131071-18 (Final) Drafting attorney: Michael Gould (202) 317-5279 Reviewing attorney: Bradford Poston (202) 317-5049 Treasury attorney: Colin Campbell (202) 622-2721 CC:PSI:B03 | |
Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Michael R. Gould Attorney Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW., Room 5022C, Washington, DC 20224 Phone:202 317-5279 Fax:855 591-7865 Email: michael.r.gould@irscounsel.treas.gov |