IRS Cancels Hearing on Disclosure of Monetized Installment Sales

The IRS has canceled a public hearing scheduled for Thursday on proposed regulations that would require disclosure of a type of installment sales of property, which the agency says are being used for tax avoidance.

The hearing on the proposed rules on disclosure of “monetized installment sales” (Reg-109348-22 RIN 1545-BQ69) was canceled Tuesday because the IRS said it hasn’t received any requests to testify.

• In monetized installment sales, a seller transfers the property to an intermediary in exchange for an installment obligation, and the intermediary then quickly transfers the property to the ultimate buyer in exchange for cash. ...