Attorney Seeks Earlier Effective Date Under Proposed Portfolio Interest Rules
JUN. 21, 2006
Attorney Seeks Earlier Effective Date Under Proposed Portfolio Interest Rules
DOCUMENT ATTRIBUTES
- AuthorsReinhold, Richard L.
- Institutional AuthorsWillkie Farr & Gallagher LLP
- Cross-Reference
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2006-12295
- Tax Analysts Electronic Citation2006 TNT 122-63
June 21, 2006
CC:PA:LPD:PR (REG-118775-06)
Room 5203
Internal Revenue Service
P.O. Box 7604
Ben Franklin Station
Washington, DC 20044
Dear Sir or Madam:
This is to comment on proposed regulation section 1.871- 14(g)(3)(i), which applies an aggregate concept in determining whether a partnership-held debt obligation is considered held by a 10% or greater shareholder of the issuer. Since this position appears to reflect the prior position of the Internal Revenue Service (see, e.g., field service advisory, 1994 WESTLAW 1866354 (February 2, 1994)), it is suggested that the final regulation be made effective as of the effective date of the underlying statute, July 18, 1984. Such an approach would avoid confusion and eliminate unnecessary disputes.
Very truly yours,
Richard L. Reinhold
DOCUMENT ATTRIBUTES
- AuthorsReinhold, Richard L.
- Institutional AuthorsWillkie Farr & Gallagher LLP
- Cross-Reference
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2006-12295
- Tax Analysts Electronic Citation2006 TNT 122-63