IRS’ proposed MLP regulations generate flurry of specific industry-related comments and spur public hearing.
“I’m mad as Hell, and, frankly, I’m not going to take it anymore.”
— Paraphrase of concerned citizen and individual MLP investor
On May 6, 2015, the Internal Revenue Service (IRS) and the Department of the Treasury (Treasury) published proposed regulations setting forth which mineral and natural resource related activities would produce master limited partnership (MLP) qualifying income. Treasury and the IRS requested comments from the public on all aspects of these proposed regulations, and the public did not disappoint. The IRS received more than 140 comments and several commenters requested a public hearing on the proposed regulations, which has now been scheduled for October 27, 2015 in Washington, D.C.
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