Like-kind exchange rules define real property, incidental personal property

Final rules coordinate Sec. 245A and Sec. 951A

The IRS on Friday issued final regulations that coordinate the Sec. 245A extraordinary disposition rule with the Sec. 951A disqualified basis and disqualified payment rules (T.D. 9934). The regulations also contain rules under Sec. 6038 on information reporting. The...
Like-kind exchange rules define real property, incidental personal property

Centralized partnership audit regime changes proposed

Partnerships received guidance from the IRS on Friday on when the new centralized partnership audit regime does not apply to certain partnership-related items. The proposed regulations (REG-123652-18) provide that the centralized audit regime may not apply when an...