IRS Issues Final Rule on Partnership Related-Party “Basis Shifting” Transactions
Offshore Account UpdatePosted on January 17, 2025
On January 10, 2025, the Internal Revenue Service (IRS) announced that it has issued final regulations identifying certain partnership related-party “basis shifting” transactions as “transactions of interest.” This has significant implications for partnerships and partners that engage in these transactions, and it is a development that will require careful consideration going forward. Learn more from Boston tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.
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