Internal Revenue Service July 23, 2014 – Federal Register Recent Federal Regulation Documents

Basis of Indebtedness of S Corporations to Their Shareholders
Document Number: 2014-17336
Type: Rule
Date: 2014-07-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to basis of indebtedness of S corporations to their shareholders. These final regulations provide that S corporation shareholders increase their basis of indebtedness of the S corporation to the shareholder only if the indebtedness is bona fide, which is determined under general Federal tax principles and depends upon all of the facts and circumstances. These final regulations affect shareholders of S corporations.
Partnerships; Start-Up Expenditures; Organization and Syndication Fees
Document Number: 2014-17335
Type: Rule
Date: 2014-07-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations concerning the deductibility of start-up expenditures and organizational expenses for partnerships. The final regulations provide guidance regarding the deductibility of start-up expenditures and organizational expenses for partnerships following a termination of a partnership under section 708(b)(1)(B). These final regulations affect partnerships that undergo section 708(b)(1)(B) terminations and their partners.