EO Tax Journal

The folks in California have been busy — first a proposal to address the treatment of discharge of indebtedness under the UBTI rules and second a comment letter on the proposed 509(a)(3) regulations.

The first item includes a draft of a proposed revenue ruling. May I make a suggestion to Lois Lerner? Hire this guy! It’s been obvious for several years that drafting revenue rulings is a lost art at the IRS, but here’s a fellow who can actually do what is now considered well-nigh impossible in today’s EO Division.
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