IRS Releases New Transaction Costs Practice Units
The IRS has released new practice units surrounding transaction costs, which provide expanded information and can foster discussion of practice concepts. Transaction Costs in a Corporate Separation, which was issued May 10, 2019, expands on transaction costs when a taxpayer participates in a corporate separation.
Another practice unit issued June 13, 2019, titled Allocation of Success-Based Fees in a Covered Transaction, focuses on taxpayer actions of success-based fees in a covered transaction. These practice units can expand how we interpret transaction costs. If you have any questions, be sure to contact our transaction costs team or your trusted Cherry Bekaert professional.