IRS Finishing Up Pair of Final Partnership Rules, Official Says

The IRS is putting the finishing touches on a pair of final rules that would impact partnerships, according to a senior IRS official.

Cliff Warren, a senior chief counsel at the IRS Chief Council Office, said the agency is close to done with a final version of the “fractions” rule. That regulation (RIN: 1545-BL22) is intended to provide guidance regarding the application of Section 514(c)(9)(E) to partnerships, according to the most recent federal regulatory agenda.

The IRS also is working to complete final rules under Section 752, according to Warren. That project (RIN: ...