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IRS PLR: Failure to Identify Interest Rate Cap as Hedging Transaction an Inadvertent Error (IRC...
Bloomberg Law· 1 day agoThe IRS has published a private letter ruling on Section 856 and Treasury Regulations Section 1.1221-2 regarding the taxpayer’s failure to identify an interest rate cap as a hedging transaction ...
IRS PLR: Extension of Time Granted to Sever Trust to Exempt, Non-Exempt Trust (IRC §2632)
Bloomberg Law· 1 day agoThe IRS has published a private letter ruling on Section 2632 and Treasury Regulation Section 301.9100 regarding extensions of time to sever a trust into an exempt and non-exempt trust ...
IRS PLR: Consent Granted to Make Retroactive Qualified Electing Fund Election (IRC §1295)
Bloomberg Law· 4 days agoThe IRS has published a private letter ruling on Section 1295 regarding making a retroactive qualified electing fund election for federal tax purposes. [PLR 202419001]
IRS PLR: Extension of Time Granted to Change Accounting Period (IRC §9100)
Bloomberg Law· 4 days agoThe IRS has published a private letter ruling on Treasury Regulation Section 301.9100 regarding extensions of time to change an accounting period for federal income tax purposes. [PLR 202419014]
IRS PLR: Private Foundation Set Aside Request for Construction Project Approved (IRC §4942)
Bloomberg Law· 4 days agoThe IRS has published a private letter ruling on Section 4942, granting the taxpayer’s set-aside request. The taxpayer, a tax-exempt private foundation formed under a trust agreement and operating exclusively ...
IRS PLR: Substitute Mortality Tables for Actuarial Assumptions in Retirement Plans Approved (IRC...
Bloomberg Law· 4 days agoThe IRS has published a private letter ruling on Section 430, granting the taxpayer’s request to use base substitute mortality tables for making computations for actuarial assumptions in retirement plans, ...
IRS Rules Utility's NOL Carryforward Cannot Be Reduced by Tax Allocation Payments | JD Supra
JD Supra· 6 days agoThe IRS ruled that the normalization rules precluded the reduction of the NOLC by reason of the TAA payments. Because the regulatory authority required the reduction of the NOLC, the restoration ...
Analysis suggests people with more copies of ribosomal DNA have higher risks of developing disease
Medical Xpress· 10 hours agoStandard genetic analysis techniques have not studied areas of the human genome that are repetitive, such as ribosomal DNA (rDNA), a fundamental part of the molecular mechanism which makes proteins ...
IRS Issues New Regs on GST Allocations
WealthManagement.com· 6 days agoTaxpayers must apply for a private letter ruling to get an extension.