The IRS issued final regulations removing the signature requirement for partnership IRC Section 754 elections. Under the final regulations, the requirements for making an IRC Section 754 election are the following.
A written statement
Filed with the partnership return for the tax year during which the distribution or transfer occurs
Within the correct filing period (with extensions)
The regulations are effective as of August 5, 2022. See complete final regulations (TD9963) below.
2022-16271
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