Transcription of Chapter 8: Related Parties - University of Illinois Urbana ...
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Chapter 8: Related Parties - University of Illinois Urbana ...
2009 Chapter 8: Related Parties2798 Chapter 8: Related PartiesThere are many provisions in the Internal Revenue Code that concern Related Parties . Many of these provisionshave their own definitions of who is considered a Related party. Two of the most far-reaching definitions arefound in IRC 267 and 318. Although many Related -party passages refer to these two code sections, they makemodifications to the parameters of the definition. For example, a provision may substitute an 80% or moreownership test for the more than 50% ownership test found in a particular Code section. Consequently, it isimportant to check the specific Related -party definition for each relevant we hear the term Related Parties , we typically think of the taxpayer and family members, including the spouse,parents, grandparents, children, and grandchildren.
Chapter 8: Related Parties There are many provisions in the Internal Revenue Code that concern related parties. Many of these provisions have their own definitions of who is considered a “related party.” Two of the most far-reaching definitions are ... This rule does not apply to IRC §401(a) employees’ trusts.
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