Many partnership provisions of TRA '97 create complexity and uncertainty

Article Abstract:

The Taxpayer Relief Act of 1997 provides a number of significant changes in the field of partnerships, some of which are unfavorable for the taxpayers. The changes, among others, are concerned with the assignment of basis on distributed properties based on fair market value and the application of Section 751 to non-substantially appreciated inventory. In general, the act offers relief to taxpayers only in terms of the procedural provisions. The more substantive domestic changes benefits only the Treasury Department.

Tax Law, Public Finance Activities, Interpretation and construction, Evaluation, Tax credits

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Many Partnership Provisions of TRA '97 Create Complexity and Uncertainty

Article Abstract:

Some provisions of the Taxpayer Relief Act of 1997 provide procedural relief to partners but also affect them in ways that make it difficult for them under other provisions.

Laws, regulations and rules

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Handling the tax consequences of partnership mergers and divisions

Article Abstract:

The tax consequences of the divestiture or merger of a partnership in Sections 721 and 731 of the tax code are discussed.

Divestiture Analysis, Acquisitions Analysis-Accounting, Acquisitions and mergers, Accounting, Corporate divestiture, Divestiture

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