; REG-102822-08
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REG-102822-08

VIEWS: 7 PAGES: 6

Proposed regulations under Section 108 provide guidance on the manner in which an S corporation reduces its tax attributes under section 108(b) for taxable years in which the S corporation has discharge of indebtedness income that is excluded from gross income under Section 108(a). A public hearing is scheduled for December 8, 2008.

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  • pg 1
									    (ii) Then, determine the total credit and                    Notice of Proposed                             Internal Revenue Building,     1111
payment allowable by multiplying the vol-                        Rulemaking and Notice of                       Constitution Avenue, NW, Washington,
ume of untaxed liquid used to produce the                        Public Hearing                                 DC.
mixture by the tax credit rate per gallon.

								
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