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IRS Targets 3 Types of Partnership Transactions
Expert Opinion June 20, 2024 at 03:24 PM
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What You Need To Know
- These types of transactions create no real economic value apart from tax reduction, the agency contends.
- The IRS intends to use additional funding under the Inflation Reduction Act to significantly increase audits and challenge these techniques.
- The regulations would deny depreciation deductions in future years even if the relevant transaction occurred before 2024.
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