Inflation Reduction Act
Final Regulations on MLP Qualifying Income Released and Published Despite Trump Moratorium
On January 19, 2017, the Department of the Treasury and the Internal Revenue Service (IRS) issued final regulations ( Final Regulations ) regarding qualifying income under Internal Revenue Code (Code) section 7704(d)(1)(E). The Final Regulations were published on January 24...
Delaware Chancery Court Dismisses Challenge to Merger of MLPs
Reaffirms Ability of Limited Partnerships to Modify Fiduciary Duties by Contract, Including Disclosure Obligations in Mergers In an opinion issued on March 29, 2016, the Delaware Chancery Court dismissed a challenge to the 2015 acquisition of Regency Energy Partners LP...
MLP Qualifying Income – Treasury and IRS Issue Proposed Regulations
On May 5, 2015, the Department of the Treasury and the Internal Revenue Service (IRS) issued proposed regulations that provide much-anticipated guidance on the scope of qualifying income under Section 7704(d)(1)(E) of the Internal Revenue Code (Code) for master limited...
Year Long Pause Lifted on MLP Qualifying Income Private Letter Rulings – Proposed Regulations to be Issued
Following a year long pause, the IRS announced Friday that it has resumed its review of pending private letter ruling (PLR) requests and is accepting new PLR requests concerning MLP qualifying income under Section 7704(d)(1)(E) of the Internal Revenue Code...