United States: IRS Takes View That FIRPTA Exemption For Publicly Traded Stock Must Be Tested At Partnership Level - Akin Gump Strauss Hauer & Feld LLP

United States: IRS Takes View That FIRPTA Exemption For Publicly Traded Stock Must Be Tested At Partnership Level - Akin Gump Strauss Hauer & Feld LLP

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In a Chief Counsel Memorandum released May 19, 2023 (the Memorandum), the Internal Revenue Service (IRS) asserted that partnerships must determine the availability of the 5% and 10% ownership thresholds...

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