Burlington, IL Weather. The average temperature of Burlington is 47.92Â°F, which is lower than the Illinois average temperature of 51.37Â°F and is much lower than the national average temperature of 54.45Â°F. Historical Weather.
Transactions of Interest. A transaction of interest is a transaction that is the same as or substantially similar to one of the types of transactions that the IRS has identified by notice, regulation, or other form of published guidance as a transaction of interest. It is a transaction that the IRS and Treasury Department believe has a potential for tax avoidance or evasion, but for which there is not enough information to determine if the transaction should be identified as a tax avoidance transaction.
DEFINITION of 'Nominee Interest' An interest payment that a person receives on behalf of someone else. If you receive nominee interest, also called a nominee distribution, you are responsible for paying income tax on it, unless you pass the interest on to its rightful owner. You must notify the IRS of the transfer in order to remove your obligation to pay taxes on the entire amount of interest.