Internal Revenue Service November 10, 2008 – Federal Register Recent Federal Regulation Documents

Information Reporting for Discharges of Indebtedness
Document Number: E8-26676
Type: Rule
Date: 2008-11-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final and temporary regulations relating to information returns for cancellation of indebtedness by certain entities. The temporary regulations will avoid premature information reporting from certain businesses that are currently required to report and will reduce the number of information returns required to be filed. The temporary regulations will impact certain lenders who are currently required to file information returns under the existing regulations. The text of these temporary regulations also serves as the text of the proposed regulations as set forth in the Proposed Rules section in this issue of the Federal Register.
Information Reporting for Discharges of Indebtedness
Document Number: E8-26674
Type: Proposed Rule
Date: 2008-11-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing final and temporary regulations relating to information returns for cancellation of indebtedness by certain entities. The temporary regulations will avoid premature information reporting from certain businesses that are currently required to report and will reduce the number of information returns required to be filed. The regulations will impact certain lenders who are currently required to file information returns under the existing regulations. The text of those temporary regulations also serves as text of these proposed regulations. This document also provides a notice of public hearing on these proposed regulations.
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