Cost-sharing arrangements under Sec. 482.

The IRS issued proposed regulations that provide guidance regarding methods under Sec. 482 to determine taxable income in connection with a cost-sharing arrangement.

The proposed regulations provide additional guidance to ensure that cost-sharing arrangements produce results consistent with those that would have been realized if uncontrolled taxpayers had engaged in the same transaction under the same circumstances.

Comments must be received by Nov. 28.

For more, visit www.ustreas.gov/press/releases/js2690.htm.