IRS Asks Partnerships Whether Their Tax-Cancellation Form Makes Sense
Published Date: 11/9/2026
Notice
Summary
The IRS wants your thoughts on Form 15254, which partnerships use to cancel a special tax rule called Section 754. If you’re part of a partnership, this affects you! They’re asking for comments by January 8, 2027, to make sure the form is clear and not too much work. No big costs are expected, just a chance to help improve the process.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Partnerships must file Form 15254
If you are a partnership, you must use IRS Form 15254 to request a Section 754 revocation. Partnerships, partners, or their representatives need to access the form on IRS.gov and submit it along with the required documents to request the revocation.
Estimated paperwork burden and comment window
The IRS estimates 50 annual responses for Form 15254, with each response taking about 5 hours and 7 minutes to complete, totaling 256 annual burden hours. The IRS is requesting public comments on this information collection and will accept written comments through January 8, 2027.
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