Bulletin No. 1999–51 December 20, 1999

Notice 99–57, page 692. Guidance is provided under section 705 of the Code relating to certain situations where gain or loss may be improperly created by adjusting the basis of a partnership interest for partnership income that is not subject to tax, or for partnership losses or deductions that are permanently denied, with respect to a partner.

Notice 99–58, page 693. Authorized IRS e-file providers, Form 1040 on-line transmitters, and financial institutions may apply to obtain a Debt Indicator for their customer/client taxpayers in exchange for screening individual income tax returns for potential abuse and reporting the findings to the IRS.