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5 Key Facts About the IRS’ New Partnership “Basis Shifting” Transaction Regulations

Offshore Account Update

Posted in on January 17, 2025

The Internal Revenue Service (IRS) recently finalized a new set of regulations governing what the agency calls “partnership related-party ‘basis shifting’ transactions.” These new regulations are effective immediately, and they establish new disclosure requirements (and new risks) for partnerships, partners and their tax advisors. Learn more from New Jersey tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.

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