IRS practice units: Determining liability allocations; recourse vs. nonrecourse liabilities
IRS practice units: Determining liability allocations
The IRS Large Business and International (LB&I) division publicly released two “practice units”—part of a series of IRS examiner “job aides” and training materials intended to describe for IRS agents leading practices about tax concepts in general and specific types of transactions.
The topics of the “concept units” (as referred to by the IRS) are:
- Determining liability allocations
- Recourse vs. nonrecourse liabilities
Read the practice units on the IRS practice unit webpage (posting date of December 18, 2020).
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