Revised, Expanded and Renumbered — 6/3/04 Items 2a.9, 2b.14-17, 4a.3-4 added — 6/14/04 (These FAQs are grouped and numbered by the sections of Announcement 2004-46 to which they relate.) Section 1 — Purpose and Scope of Initiative (Q&A 1.1) Section 2 — Terms of Initiative (a) Tax Adjustments (Q&As 2a.1 - 2a.9) (b) Application of Penalties (Q&As 2b.1 - 2b.17) Section 3 — Eligibility Requirements (Q&As 3.1 - 3.9) Section 4 — Required Procedures for Electing Participants (a) Notice of Election (Q&As 4a.1 - 4a.4) (b) Additional Information and Documentation – 60 days (Q&As 4b.1 - 4b.4) (c) Closing Agreement and Payment – 30 days (Q&As 4c.1 - 4c.4) Additional Questions (Q&As Misc.1 - Misc.8) Related Items: Son of Boss Settlement Initiative FAQs (174K PDF) — all FAQs in one file Announcement 2004-46 (68K PDF) IR-2004-64 — IRS Offers Settlement for Son of Boss Tax Shelter
