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TREAS/IRS RIN: 1545-BJ14 Publication ID: Spring 2014 
Title: Guidance Under Section 108(a) Concerning the Exclusion of Section 61(a)(12) Discharge of Indebtedness Income of a Grantor Trust or a Disregarded Entity 
Abstract: These regulations conclude that, for purposes of determining whether the provisions of section 108 apply to the cancellation of a disregarded entity's indebtedness, the relevant taxpayer for determining insolvency or a court's jurisdiction is the owner of the disregarded entity. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1   
Legal Authority: 26 USC 108    26 USC 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  04/13/2011  76 FR 20593   
NPRM Comment Period End  07/12/2011    
Final Action  12/00/2014 
Additional Information: REG-154159-09 Drafting attorney: Frank Fisher and Amy Chang (202) 317-6850 Reviewing attorney: David R. Haglund (202) 317-6850 Treasury attorney: Ben Willis (202) 622-2198 CC:PSI
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1545-BJ18 
Agency Contact:
Amy Chang
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-6850
Email: amy.chang@irscounsel.treas.gov

Frank J. Fisher
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 5007,
Washington, DC 20224
Phone:202 317-6850
Fax:855 591-7864
Email: frank.j.fisher@irscounsel.treas.gov