Reportable Transactions definition

Reportable Transactions are certain transactions defined in the Regulations and Service rulings. The Fund may enter into transactions which fall within the definition of "Reportable Transactions". Possible examples include losses in excess of two million dollars in one taxable year and transactions where the amount reported for tax purposes differs by more than ten million dollars from the amount utilized for non-tax purposes. The filing of a disclosure statement by the Fund could result in an audit of the Fund's partnership information return by the Service, which in turn could result in audits of the tax returns of Investors.
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Reportable Transactions has the meaning set forth in Section 7.10.
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Examples of Reportable Transactions in a sentence

  • Section 506 of the Tax Extenders and Alternative Minimum Tax Relief Act of 2008 requires our firm, as tax return preparers, to conform to a higher standard than the taxpayer when an undisclosed tax position is related to a tax shelter as defined in IRC §6662(d)(2)(C)(ii), Imposition of Accuracy-Related Penalty on Underpayments, or a reportable transaction to which IRC §6662A, Imposition of Accuracy-Related Penalty on Understatements with Respect to Reportable Transactions, applies.

  • Participant understands and agrees that the following information will be disclosed to the selected Index Developers for all Reportable Transactions: (a) price; (b) volume; (c) buy/sell indicator; (d) delivery/receipt location; (e) transaction date and time; (f) term; and (g) identity of Participant;.

  • Section 506 of the Tax Extenders and Alternative Minimum Tax Relief Act of 2008 requires our firm, as tax return preparers, to conform to a higher standard than the taxpayer when an undisclosed tax position is related to a tax shelter as defined in IRC §6662(d)(2)(C)(ii), Imposition of Accuracy- Related Penalty on Underpayments, or a reportable transaction to which IRC §6662A, Imposition of Accuracy-Related Penalty on Understatements with Respect to Reportable Transactions, applies.

  • T ax shelters Section 506 of the Tax Extenders and Alternative Minimum Tax Relief Act of 2008 requires our firm, as tax return preparers, to conform to a higher standard than the taxpayer when an undisclosed tax position is related to a tax shelter as defined in IRC §6662(d)(2)(C)(ii), Imposition of Accuracy-Related Penalty on Underpayments, or a reportable transaction to which IRC §6662A, Imposition of Accuracy-Related Penalty on Understatements with Respect to Reportable Transactions, applies.

  • Unless a reportable transaction is more likely than not to be sustained on its merits, IRC §6662A, Imposition of Accuracy-Related Penalty on Understatements with Respect to Reportable Transactions, requires us to disclose the reportable transaction in a separate attachment to the tax return.

  • In such an event, the Client shall notify the Bank and shall provide the Bank with the details of the Reportable Transactions so reported to avoid duplication of reporting.

  • Under the Treasury Regulations, certain transactions may be characterized as Reportable Transactions including, in certain circumstances, a sale, exchange, retirement or other taxable disposition of a Foreign Currency Note or foreign currency received in respect of a Foreign Currency Note to the extent that such sale, exchange, retirement or other taxable disposition results in a tax loss in excess of a threshold amount.

  • The Company acknowledges that it will comply in a timely manner with all obligations imposed on it by the Code and Treasury Regulations in respect to “reportable transactions” as defined in Treasury Regulation § 1.6011-4 or successor provision (“Reportable Transactions”), and will promptly furnish to each Member all information relating to Reportable Transactions which the Member would need in order to comply with requirements under the Code and applicable regulations.

  • The law imposes substantial penalties (as much as $200,000) on taxpayers and tax advisors for failure to disclose listed and other reportable transactions on IRS Form 8886, Reportable Transactions Disclosure Statement, and, in some cases, extends the statute of limitations tax authorities have to contest any tax return claiming those tax positions.

  • The Fund may enter into transactions which fall within the definition of "Reportable Transactions".

Related to Reportable Transactions

  • Reportable Transaction means a transaction by an Access Person in a Reportable Security.

  • Disclosable transaction means any transaction in a security pursuant to which an access person would have a beneficial ownership.

  • Eligible Transactions means any retail transactions for the purchase of goods and/or services successfully charged to your Principal Credit Card and which are posted on UOB’s systems but excluding the Excluded Transactions (as defined below). For the avoidance of doubt, Eligible Transactions made in foreign currencies will be converted into Singapore dollars based on UOB’s then prevailing exchange rate applicable at the time of exchange. The transaction amount posted in your Principal Credit Card account will be used for the purposes of computing the Qualifying Spend amount for this Promotion.

  • Prohibited Transactions means a personal securities transaction prohibited by this Code.

  • Exempt Transactions means the transactions described in the section hereof titled “Exempt Transactions.”