Regulation & law · 20/11/2000

IRS Issues Final Regulations on Amortization of Intangibles in Partnerships

The IRS has released final regulations on the amortization of intangible property in partnerships, applying the anti-churning rules to certain distributions and basis adjustments, effective for taxpayers who acquired intangible property after August 10, 1993, or made a retroactive election to apply the Omnibus Budget Reconciliation Act of 1993.