The IRS considered corporate transactions in two private letter rulings—one involving a real estate investment trust’s reorganization, the other a parent’s retention of stock in a subsidiary spinoff to shareholders.
The Internal Revenue Service in additional PLRs released Aug. 28 addressed information reporting requirements for the operator of a Web marketplace and issues related to the exempt status of organizations. The Service also ruled on taxpayer requests for extensions of time and similar relief.
REIT Reorganization Ruling.
In the first of the corporate transaction rulings, the IRS considered a real estate investment trust’s plan to reorganize so that a taxable ...
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