IRS narrowly interprets scope of interest netting rules.
The Tax Adviser › Vol. 30 Nbr. 6, June 1999
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IRS narrowly interprets scope of interest netting rules.
Despite Congress's intent to have interest netting apply as broadly as possible, the IRS has interpreted the interest netting rules narrowly, to the disadvantage of many taxpayers. On Mar. 29, 1999, the Service issued Rev. Proc. 99-19 to provide guidance on the ...
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