IRS TO HEAR COMMENTS ON REPORTABLE TRANSACTIONS RULE
The Internal Revenue Service (IRS) will hold a hearing regarding a proposed rule relating to the disclosure of reportable transactions under sections 6011 and 6111 of the Internal Revenue Code. These regulations propose to add the patented transactions category of reportable transaction to the regulations under Sec. 1.6011-4. The regulations also include conforming changes to the rules relating to the disclosure of reportable transactions by material advisors under section 6111. The public hearing is being held at 10 a.m. on February 21 in the auditorium of the Internal Revenue Building at 1111 Constitution Avenue, NW., Washington, D.C.