§ 2634.1002 - Role of the Internal Revenue Service.  


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  • § 2634.1002 Role of the Internal Revenue Service.

    The Internal Revenue Service (IRS) has jurisdiction over the tax aspects of a divestiture made pursuant to a Certificate of Divestiture. Eligible persons seeking to defer capital gains:

    (a) Must follow IRS requirements for reporting dispositions of property and electing under section 1043 not to recognize capital gains; and

    (b) Should consult a personal tax advisor or the IRS for guidance on these matters.