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IRS Studying Rule Revisions For Intercompany Transactions

By David van den Berg · January 29, 2021, 7:21 PM EST

The Internal Revenue Service is considering potential revisions to intercompany transaction rules, an agency official said Friday.

William Burhop, senior technician reviewer, branch five, in the Internal Revenue Service's Office of Associate Chief Counsel (Corporate), said during the American Bar Association's Virtual Tax Meeting a study project is underway to think about revisions to the transaction rules in Treasury Regulations § 1.1502-13.

That project isn't on the current priority guidance plan. Burhop said drafting teams continue their work on guidance plan projects despite a freeze the Biden administration put in place on new regulations just after President Joe Biden was sworn in.

--Additional reporting by Jon Hill. Editing by Vincent Sherry. 

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