# Definition of Omission From Gross Income
> **IRS** · Final regulations. · Published 2010-12-17 · Effective 2010-12-14 · 75 FR 78897
## Document
- **Document number:** 2010-31747
- **Category:** other
- **Sub-agency:** IRS
- **Federal Register citation:** 75 FR 78897
- **CFR reference:** 26 CFR 301
- **Publication date:** 2010-12-17
- **Effective date:** 2010-12-14
- **Treasury docket:** TD 9511
## Abstract

This document contains final regulations defining an omission from gross income for purposes of the six-year minimum period for assessment of tax attributable to partnership items and the six-year period for assessing tax. The regulations resolve a continuing issue as to whether an overstatement of basis in a sold asset results in an omission from gross income. The regulations will affect any taxpayer who overstates basis in a sold asset creating an omission from gross income exceeding twenty-five percent of the income stated in the return. Additionally, provisions related to estate, gift and excise tax are reinstated from the prior final regulation.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2010/12/17/2010-31747/definition-of-omission-from-gross-income)
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