WASHINGTON (CN) - The Internal Revenue Service has expanded the ways in which business assets and stock may be transferred without triggering tax consequences.
Business reorganizations are tax free, but businesses that have been bought or sold are not. The new IRS regulations have expanded the definition of "qualified group" to enable businesses that have a more tenuous connection with each other than before allowed, to exchange financial interests without tax consequences, if the reorganization has preserved the "link" between shareholders and business assets. Click here for details and other new regulations.
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