HIGHLIGHTS OF THIS ISSUE

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

INCOME TAX

REG–119305–11, Page 524. These proposed regulations under section 707 of the Code relate to disguised sales of property to or by a partnership and under section 752 relating to the treatment of partnership liabilities. The proposed regulations address certain deficiencies and technical ambiguities in the section 707 regulations and certain issues in determining partners’ shares of liabilities under section 752. Written or electronic comments and requests for a public hearing must be received by April 30, 2014.

Finding Lists begin on page ii. Index for July through February begins on page iv.