The Bulletin Index-Digest System & Highlights Summaries

Transfers to Avoid Tax

The following items are Summaries from the "Highlights" page of each Internal Revenue Bulletin, the official weekly publication of the IRS. The Summaries begin in January 1994 and have been compiled through the date shown above. There are no links for the documents issued in 1994 and 1995, but beginning in January 1996 there are links to the full text of all the actual documents. These documents have been extracted from IRS's Internal Revenue Bulletins and are in the Adobe Acrobat PDF format. You will need the appropriate Acrobat Reader installed on your computer to view or print the PDF files.

TO FOREIGN ENTITIES

Notice 97-18 from IR Bulletin No. 1997-10
This notice provides guidance concerning the application of sections 1491 through 1494 of the Code to certain transfers of property by a U.S. person to a foreign corporation, partnership, trust, or estate. Pursuant to section 1902 of the Small Business Job Protection Act of 1996, failure to report such a transfer made after August 20, 1996, could result in a penalty equal to 35 percent of the value of the property transferred.

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