This ruling provides the dollar amounts, increased by the 2017 inflation adjustments, for section 1274A of the Code.
Revenue Ruling 2015–24 supplemented and superseded. This revenue procedure provides an updated list of countries with which the reporting requirement of §§1.6049–8(a) and 1.6049–4(b)(5) of the Income Tax Regs.
Proposed regulations incorporate the text of temporary regulations (TD 9788) concerning a partner's share of partnership liabilities for purposes of section 707 of the Code and the treatment of certain payment obligations under section 752.
In addition, the proposed regulations address (1) when certain obligations to restore a deficit balance in a partner's capital account are disregarded under section 704 and (2) when partnership liabilities are treated as recourse liabilities under section 752. This revenue ruling relates to allocations of low-income housing credits to qualified low-income buildings.
The Bulletin is divided into four parts as follows: To the extent practicable, pertinent cross references to these subjects are contained in the other Parts and Subparts.