Daily Tax Report ®

IRS T.D.: Transfers of Property by U.S. Persons to Partnerships With Related Foreign Partners (IRC §721)

Feb. 14, 2020, 5:00 AM

Correction to date in regulations regarding transfers of certain property by U.S. persons to partnerships with related foreign partners, the IRS stated in final regulations released February 14. In Treasury Regulations Section 1.721(c)-6(g)(3)(ii), regarding transition rules, the date is changed from March 17, 2020, to July 17, 2020. The IRS makes a corresponding correction to the preamble with other changes. [T.D. 9891, RIN 1545-BM95, 85 Fed. Reg. __ (Feb. 18, 2020)]

View Regulation Correction, View Preamble Corrections.

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