Treatment of connected person and accommodating party.

For the purposes of this Chapter, in determining whether a tax benefit exists,—

1. (i) the parties who are connected persons in relation to each other may be treated as one and the same person;
2. (ii) any accommodating party may be disregarded;
3. (iii) the accommodating party and any other party may be treated as one and the same person;
4. (iv) the arrangement may be considered or looked through by disregarding any corporate structure.