📊IRS Notice on Mark to Market Election - Comments Requested by 2025
Proposed Collection; Comment Request for Revenue Procedure 99-17
Summary
The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning, Mark to Market Election for Commodities Dealers and Securities and Commodities Traders.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The proposed collection of comments regarding the Mark to Market Election directly impacts commodities dealers and securities traders, requiring them to comply with IRS guidelines, which introduces financial implications in terms of reporting and record-keeping. This could influence their accounting methods and potentially affect financial reporting and tax obligations.