📈IRS Seeks Comments on Safe Harbor for Valuation Method
Agency Collection Activities; Requesting Comments for Safe Harbor for Valuation and Mark to Market Accounting Method for Dealers Under Section 475
Summary
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning renewal of the OMB approval on the Safe Harbor for Valuation and Mark to Market Accounting Method for Dealers under section 475 (TD 9328 and TD 8700).
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The IRS is soliciting comments on a safe harbor method for valuation and mark-to-market accounting for dealers under Section 475, which may impact how businesses report their finances. This directly affects compliance and regulatory requirements for securities and commodities dealers.