News & Analysis as of

Proposed Rules U.S. Treasury Partnerships

Williams Mullen

IRS Withdraws Reporting Requirements for Certain Basis-Shifting Transactions

Williams Mullen on

On April 17, 2025, the IRS issued Notice 2025-23, which announced its intent to publish a notice of proposed rulemaking to remove Treasury Regulations Section 1.6011-18 that identifies certain partnership basis adjustment...more

Mayer Brown

The Finalized Disclosure Requirements for Partnership Basis-Shifting Transactions: Slightly Less Onerous, but Still Premature

Mayer Brown on

On January 14, 2025, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) published final regulations (the “Final Regulations”) addressing reporting obligations with respect to certain...more

Brownstein Hyatt Farber Schreck

Treasury Releases Long-Anticipated Guidance on Taxation of Passthrough Entities

On Aug. 8, 2018, the Department of Treasury issued proposed regulations under Section 199A of the Internal Revenue Code (“Code”) regarding the 20-percent deduction for passthrough businesses. ...more

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