IRS Written Determinations
Free IRS private letter rulings, technical advice memoranda, and Chief Counsel advice with plain-English summaries and the official IRS release on every page.
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Late qualified opportunity fund self-certification accepted
A partnership intended to operate as a qualified opportunity fund but failed to include Form 8996 with its first-year return. Its accounting firm did not advise it of the filing requirement and later …
Partnership receives time to elect out of bonus depreciation
A partnership decided not to claim additional first-year depreciation for all classes of qualified property placed in service during a taxable year. Its adviser received that instruction, but an inter…
Bonus depreciation election extension granted
An S corporation asked for more time to elect out of additional first-year depreciation for all qualified property classes placed in service during a tax year. Its return preparer did not consider or …
Late corporate classification and S elections approved
A limited liability company intended to be classified as a corporation and taxed as an S corporation from its formation date. It did not timely file either Form 8832 or Form 2553. The IRS concluded th…
Late qualified opportunity fund certification accepted
A partnership intended to self-certify as a qualified opportunity fund beginning in a particular month. Its original accountant incorrectly concluded that no federal return was required and did not kn…
Late QTIP and reverse QTIP elections approved
A decedent's trust created a separate trust that paid all net income to the surviving spouse at least annually and permitted principal distributions for the spouse's health, support, and maintenance. …
Late safe harbor elections approved for acquisition fees
A domestic limited partnership paid success-based fees for five taxable asset acquisitions spanning two tax years. Its returns generally deducted 70 percent and capitalized 30 percent of four fees but…
Late REIT election treated as timely
A real estate investment firm intended a newly formed limited liability company to elect real estate investment trust status for its first tax year. Its accounting firm mistakenly filed the extension …
Late estate tax portability election approved
An estate that represented it was not otherwise required to file Form 706 missed the deadline to elect portability of the decedent's unused estate and gift tax exclusion. The election would allow the …
Late section 336(e) election statement approved
An individual purchased at least 80 percent of an S corporation's stock, and the parties intended to treat the stock sale as an asset sale under IRC § 336(e). They did not timely attach the required e…
Late partnership section 754 election approved
A limited liability company treated as a partnership failed to timely elect under IRC § 754 after a buyer purchased partnership interests in a transaction the company treated as a disguised sale. The …
Late qualified opportunity fund certification treated as timely
A partnership was formed to operate as a qualified opportunity fund, but its manager and tax advisers did not timely file an extension or partnership return because of a miscommunication. The advisers…
Late corporate classification election approved
A state corporation with an S election converted to a limited liability company and intended to remain classified as a corporation for federal tax purposes. It did not timely file Form 8832 to elect a…
Estate received more time to elect portability of unused estate tax exclusion
An estate that was not otherwise required to file an estate tax return missed the deadline to elect portability for the decedent's unused exclusion amount. The estate asked for relief under Treas. Reg…
Fund received more time to self-certify as a qualified opportunity fund
A partnership formed to operate as a qualified opportunity fund missed the deadline to file Form 8996 with its partnership return. Its accounting firm had advised it about the required filings but fai…
Solar facility owner received more time for leased-property credit election
A partnership owned a solar energy facility and leased it to another entity, intending to pass the facility's energy credit to the lessee. The parties' timely returns reflected that intended treatment…
Controlled entities received more time for tax-exempt-use property elections
Two companies wholly owned by a tax-exempt entity served as general partners in partnerships that placed projects in service. Their partnership agreements stated that the companies would elect under I…
Fund received more time for built-in-loss property basis election
An investment fund transferred business assets with aggregate tax basis above fair market value to an affiliated corporation in a transaction represented to qualify under IRC § 351. The fund and corpo…
Fund received more time for built-in-loss property basis election
An investment fund and affiliated funds transferred business assets with aggregate tax basis above fair market value to an affiliated corporation in transactions represented to qualify under IRC § 351…
Affiliated fund received more time for built-in-loss basis election
An investment fund transferred business assets with aggregate tax basis above fair market value to an affiliated corporation in a transaction represented to qualify under IRC § 351. The fund and corpo…
Fund obtained late-election relief for transferred built-in-loss assets
An affiliated investment fund transferred business assets whose aggregate tax basis exceeded fair market value to a corporation in a transaction represented to fall under IRC § 351. The parties intend…
Late basis election allowed for fund's built-in-loss asset transfer
An investment fund transferred business assets with built-in loss to an affiliated corporation in a transaction represented to qualify under IRC § 351. The fund and corporation intended to elect under…
Partnership received more time to make section 754 basis election
A partnership sold interests to new partners and intended to make an IRC § 754 election with its return but inadvertently failed to do so. The election would permit basis adjustments under IRC §§ 734 …
Partnership received more time to opt out of bonus depreciation
A partnership placed qualified five-year and fifteen-year property in service and claimed additional first-year depreciation on its timely return. Its return preparer did not know that the deduction w…
Estate received 120 days to make portability election
An estate that was not otherwise required to file Form 706 missed the deadline to elect portability of the decedent's unused estate tax exclusion. The estate requested relief under Treas. Reg. § 301.9…
Fifteen foreign entities received late check-the-box election relief
A foreign investment fund wholly or partly owned fifteen foreign eligible entities. The fund intended each entity to elect partnership or disregarded-entity status from its formation or acquisition da…
Late Form 8996 treated as timely for opportunity fund certification
A partnership formed to invest in qualified opportunity zone property relied on a longtime accountant to handle its tax compliance. The accountant did not know that Form 8996 was required and omitted …
Opportunity fund's amended Form 8996 was accepted as timely
A partnership was formed to invest in a qualified opportunity zone business, and some members contributed gains they expected to defer. Its longtime accountant did not know that the partnership had to…
Five foreign entities received late classification election relief
Five foreign eligible entities failed to timely file Forms 8832 for their intended federal tax classifications. One entity sought partnership treatment, while the other four sought disregarded-entity …
LLC received more time to elect corporate tax classification
A domestic limited liability company intended from formation to be classified as an association taxable as a corporation. It did not timely file Form 8832 to make that election. The company represente…
Estate obtained extension to preserve unused exclusion for spouse
An estate below the Form 706 filing threshold did not timely file an estate tax return or elect portability. It sought regulatory relief so the surviving spouse could potentially use the decedent's un…
Pension plan sponsor received five-day extension for prefunding election
A defined benefit plan sponsor intended to use part of the plan's prefunding balance to satisfy its remaining minimum required contribution. Because of an oversight, it delivered the election to the e…
REIT received more time to elect taxable subsidiary status
A REIT indirectly owned a corporation through a joint venture and intended the corporation to be its taxable REIT subsidiary. Another REIT connected to the joint venture timely filed its own Form 8875…
REIT received more time to elect taxable subsidiary status
A REIT indirectly owned a corporation through a joint venture and intended the corporation to be its taxable REIT subsidiary. Another REIT connected to the joint venture timely filed its own Form 8875…
REIT received more time to elect taxable subsidiary status
A REIT indirectly owned a corporation through a joint venture and intended the corporation to be its taxable REIT subsidiary. Another REIT connected to the joint venture timely filed its own Form 8875…
REIT received more time to elect taxable subsidiary status
A REIT indirectly owned a corporation through a joint venture and intended the corporation to be its taxable REIT subsidiary. Another REIT connected to the joint venture timely filed its own Form 8875…
Estate received more time to elect portability of unused estate tax exclusion
An estate that was not otherwise required to file an estate tax return missed the deadline to elect portability for the decedent's unused exclusion amount. The estate asked for relief under Treas. Reg…
Corporation received 30 days to file branch-tax election statement
A foreign parent conducted a U.S. trade or business through disregarded entities. When the lowest-tier U.S. LLC elected corporate status, its assets were treated as contributed to a new corporation un…
Partnership received extra time to self-certify as a qualified opportunity fund
A partnership formed to invest in qualified opportunity zone property missed the deadline to file Form 8996 and self-certify as a qualified opportunity fund. Its manager had hired a firm to prepare re…
Tax-exempt controlled entity received 60 days to file a depreciation election
A corporation wholly owned by a tax-exempt entity intended to elect not to be treated as a tax-exempt controlled entity for depreciation purposes. Its tax advisor prepared the return as if the electio…
Lower-tier partnership received 120 days to make a section 754 election
A lower-tier partnership missed its section 754 election after a partner in an upper-tier partnership sold its interest. The upper-tier partnership had a section 754 election in effect, and the lower-…
Foreign entity received 120 days to file a late corporate classification election
A foreign eligible entity intended to elect corporate tax classification but failed to file Form 8832 on time. It asked the IRS for discretionary relief under the regulatory election rules. The IRS co…
Partnership received 120 days to make a late section 754 election
A partnership intended to make a section 754 election after an ownership change but failed to file the election on time. It requested discretionary late-election relief. The IRS concluded that the par…
LLC's late qualified opportunity fund certification was treated as timely
An LLC formed as a qualified opportunity fund missed the deadline for its partnership return and Form 8996 after its accounting firm overlooked the extension filing. Investors had already contributed …
120-day relief for an LLC to make late corporate-classification and S corporation elections
An LLC is not a corporation by default, so to be taxed as an S corporation it must both elect to be classified as a corporation and elect S status. Here an LLC intended to be an S corporation as of a …
120-day extension to fix the effective date of an LLC's corporate-classification election
An LLC can choose to be taxed as a corporation by filing Form 8832, and it specifies on the form the date the election takes effect. Here an LLC wanted its corporate classification to be effective as …
75-day extension to make a late section 336(e) election on an S corporation stock sale
A section 336(e) election lets the sale of a corporation's stock be treated, for tax purposes, as if the company had sold its assets, which can give the buyer a stepped-up basis in those assets. Here …
120-day extension for an estate to make a late portability (DSUE) election
When someone dies without using up their full estate-tax exemption, a "portability" election lets the surviving spouse inherit the unused amount (the deceased spousal unused exclusion, or DSUE), but i…
120-day extension for three foreign entities to file late disregarded-entity elections
A single-owner foreign business entity can elect to be "disregarded" for U.S. tax purposes (treated as part of its owner) by filing Form 8832 on time. Here three related foreign entities, each organiz…
120-day relief for two late elections tied to a tax-exempt-owned low-income housing entity
When property is used by a tax-exempt entity, special "tax-exempt use property" rules force the owner to depreciate it slowly under the alternative depreciation system, which reduces deductions. Here …
120-day extension for a foreign entity to file a late disregarded-entity election
A foreign business entity with a single owner can choose to be "disregarded" for U.S. tax purposes (treated as part of its owner rather than a separate taxpayer) by filing Form 8832, but the election …
Partnership received 120 days to make a section 754 election after a partner's death
A partnership failed to make a section 754 election for the tax year in which one of its partners died. It requested discretionary relief to make the election late. The IRS concluded that the partners…
Estate received 120 days to make a late portability election
An estate that was not otherwise required to file Form 706 missed the deadline to elect portability of the deceased spouse's unused estate and gift tax exclusion. The estate requested relief so the su…
Housing project received 120 days to make the average-income election
The owner of a single-building low-income housing project intended to elect the average-income minimum set-aside. Contemporaneous documents supported that intent, but the owner inadvertently omitted t…
Corporation received 120 days to make a late GILTI high-tax election
A domestic corporation intended to make the GILTI high-tax exclusion election for a group of 29 controlled foreign corporations. Its timely return reported zero GILTI consistently with that intent, bu…
Corporation received 60 days to make a late success-based fee election
A corporate group used the Rev. Proc. 2011-29 safe harbor for success-based transaction fees, deducting 70 percent and capitalizing 30 percent. It reported the merger fees consistently with the safe h…
Partnership received 120 days to make a late section 754 election
A limited partnership intended to elect under section 754 after a partner died, but it inadvertently omitted a valid election from its timely partnership return. The election would allow partnership p…
Estate received 120 days to make a late QTIP election
A decedent's revocable trust became irrevocable at death and divided into family and marital trusts. The surviving spouse was entitled to all marital trust income for life, and the trust was intended …
Consolidated group received 75 days to waive a loss carryback
A consolidated corporate group generated a consolidated net operating loss and carried it forward on its returns. The group intended to waive the loss's carryback period but relied on a tax profession…
Parties received 75 days to make a late section 336(e) election
Purchasers acquired all stock of an S corporation from its shareholders, and the parties intended to treat the stock sale as an asset sale under section 336(e). They did not timely attach the required…
What these documents are
- Private letter rulings (PLRs): A taxpayer asked the IRS to rule on a planned transaction before doing it. The ruling shows exactly how the IRS applied the Code to those facts.
- Technical advice memoranda (TAMs): The IRS National Office answering a question raised during an audit or other proceeding.
- Chief Counsel advice (CCAs): IRS lawyers advising their own field staff on how to apply the law.
- Determination letters: Rulings on exempt-organization matters, such as whether an organization qualifies under § 501(c)(3) or a foundation's grant procedures pass § 4945.
- Not precedent, still useful: Under 26 U.S.C. § 6110(k)(3) none of these can be cited as precedent. They remain the best public window into how the IRS actually rules on facts like yours, and practitioners read them for exactly that.