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TREAS/IRS RIN: 1545-BC16 Publication ID: Fall 2008 
Title: Contingent at Closing Escrows 
Abstract: The regulations will provide rules for taxing the income of a contingent at closing escrow. A contingent at closing escrow is, generally, established in connection with the sale or exchange of real or personal property to hold assets that will be distributable to the purchaser or seller based on the post-closing resolution of bona fide contingencies. The rules will require the purchaser or seller to take into account all items of income and deduction for Federal income tax purposes. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Long-Term Actions 
Major: No  Unfunded Mandates: Undetermined 
CFR Citation: 26 CFR 1    26 CFR 602   
Legal Authority: 26 USC 7805    26 USC 468   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Next Action Undetermined  To Be Determined    
Additional Information: REG-103422-03 Drafting attorney: Steven J. Gee (202) 622-4970 Reviewing attorney: Roy A. Hirschhorn (202) 622-4970 Treasury attorney: Marc Countryman (202) 622-9858 CC: ITA
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1545-AR82 
Agency Contact:
Steven J. Gee
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 622-4970
Email: steven.j.gee@irscounsel.treas.gov