Department of Treasury November 3, 2014 – Federal Register Recent Federal Regulation Documents

Local Lodging Expenses; Correction
Document Number: 2014-26068
Type: Rule
Date: 2014-11-03
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9696) that were published in the Federal Register on October 1, 2014 (79 FR 59112). The final regulations are relating to the deductibility of expenses for lodging when an individual is not travelling away from home (local lodging).
Certain Distributions Treated as Sales or Exchanges
Document Number: 2014-25487
Type: Proposed Rule
Date: 2014-11-03
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations that prescribe how a partner should measure its interest in a partnership's unrealized receivables and inventory items, and that provide guidance regarding the tax consequences of a distribution that causes a reduction in that interest. The proposed regulations take into account statutory changes that have occurred subsequent to the issuance of the existing regulations. The proposed regulations affect partners in partnerships that own unrealized receivables and inventory items and that make a distribution to one or more partners.