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TREAS/IRS RIN: 1545-BP68 Publication ID: Fall 2023 
Title: Guidance Under Section 704(d) (Basis Limitation on Allowance of Losses) 

This regulation will provide guidance on the manner in which charitable contributions and foreign taxes are taken into account for purposes of determining a partner’s limitation on the allowance of partnership losses under section 704(d) of the Internal Revenue Code.

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 704(d)     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 704(d)   
Legal Deadline:  None
Action Date FR Cite
NPRM  12/00/2023 
Additional Information: REG-124325-19 (NPRM) Drafter attorney: Darshan H. Chulani (202) 317-6850 Reviewer attorney: Jennifer N. Keeney (202) 317-6850 Treasury attorney: N/A CC:PSI:B01
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Darshan H. Chulani
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW,
Washington, DC 20224
Phone:202 317-6850