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IRS Expands Scope of Private Letter Ruling Program for Spin-offs  

Author:  Layla J. Asali.; Andrew L. Howlett.; Katherine H. Zhang.; David W. Zimmerman.

Source: Volume 35, Number 02, Winter 2018 , pp.3-8(6)

Journal of Taxation of Investments

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With Revenue Procedure 2017-52, the IRS has introduced a new pilot program expanding the scope of letter rulings available for distributions intended to qualify as tax-free spin-offs under Section 355. The authors discuss this welcome new development, which provides an avenue for taxpayers contemplating spin-off transactions to obtain certainty with respect to their entire transaction.

Keywords: IRC Sec. 355, Rev. Proc. 2017-52, private letter ruling requests, significant issue, spin-off

Affiliations:  1: Miller & Chevalier Chartered; 2: Miller & Chevalier Chartered; 3: Miller & Chevalier Chartered; 4: Miller & Chevalier Chartered.

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