Wednesday, September 28, 2005
Annie H. Jeong (Wachtell, Lipton, Rosen & Katz, New York) has published The Need for a Qualified Debt Exception Under the Proposed Regulations Dealing with Disguised Sales, 108 Tax Notes 1555 (Sept. 26, 2005), also available on the Tax Analysts web site as Doc 2005-18749, 2005 TNT 186-26. Here is the abstract:
In this article, the author provides a brief overview of the current partnership regulations on disguised sales of property, particularly regarding the qualified liability exception, discusses the proposed regulations on disguised sales of partnership interests, and recommends that a qualified liability exception be included in the final regulations on disguised sales of partnership interests. Without such an exception, the author believes that the proposed regulations may be overreaching and produce unintended results.