The Audit Technique Guide (ATG) on Passive Activity Losses (PAL) has been significantly revised to reflect an issue-based format. Additionally, it has been updated to encompass current emerging issues, changes to Form 8582, Passive Activity Loss Limitation, and recent case law. The guide was developed to provide Revenue Agents and Tax Compliance Officers with technical information and tools to examine issues relating to both income and losses from passive activities. This text provides specific guidance on potential audit issues along with summaries of the applicable Internal Revenue Code (IRC) and Federal Tax Regulations (Regulations) and highlights of common errors. We have attempted to write this ATG in plain layman's language, addressing issues which may be encountered on an audit. The text is not all encompassing and does not cover every exception. The IRC x 469, the related Regulations, and case law may have to be researched.
- ISBN10 1304114325
- ISBN13 9781304114327
- Publish Date 7 June 2013
- Publish Status Active
- Publish Country GB
- Imprint Lulu.com
- Format Paperback
- Pages 155
- Language English