Department of the Treasury June 12, 2007 – Federal Register Recent Federal Regulation Documents

Safe Harbor for Valuation Under Section 475.
Document Number: E7-11146
Type: Rule
Date: 2007-06-12
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document sets forth an elective safe harbor that permits dealers in securities and dealers in commodities to elect to use the values of positions reported on certain financial statements as the fair market values of those positions for purposes of section 475 of the Internal Revenue Code (Code). This safe harbor is intended to reduce the compliance burden on taxpayers and to improve the administrability of the valuation requirement of section 475 for the IRS.
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