AICPA Asks Congress for Relief From SILO Regs for Partnerships 

    In this March 2, 2005, letter to Congress, AICPA requests immediate relief under SILO legislation, because partnerships that have tax-exempt (including foreign) partners are unsure whether losses should be reported as suspended or disallowed in the situation where the partnership did not engage in any SILO or other leasing transactions. Schedules K –1, therefore, are being held pending guidance.

    View the letter

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