Friday, January 06, 2006

IRS and Treasury Change Reporting for Certain Transactions with Significant Book-Tax Differences

IRS and Treasury Change Reporting for Certain Transactions with Significant Book-Tax Differences: "Taxpayers are required to disclose to the IRS their participation in reportable transactions to the IRS. In certain cases, taxpayers' advisors are also required to disclose their involvement with reportable transactions to the IRS and to keep lists of participants in those transactions."

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