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TREAS/IRS | RIN: 1545-BM17 | Publication ID: Fall 2014 |
Title: ●Segregation Rule Effective Date | |
Abstract:
These proposed regulations modify the effective date provision of recently published final regulations. This change affects corporations whose stock is or was acquired by the Department of the Treasury (Treasury) pursuant to certain programs under the Emergency Economic Stabilization Act of 2008 (EESA). In 2002 Treasury provided guidance that provided favorable treatment under section 382 of the Internal Revenue Code for sales of stock owned by the Treasury to public shareholders. A provision in final regulations under section 382 issued in 2013 may have unintentionally eliminated this tax benefit. These regulations will make the 2013 regulations inapplicable to sales of Treasury owned stock described above, thus preserving this tax benefit. |
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Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 26 CFR 1.382-3 | |
Legal Authority: 26 USC 382(m) 26 USC 7805 |
Legal Deadline:
None |
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Timetable:
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Additional Information: REG-105067-14 Drafting attorney: Stephen Cleary (202) 317-5356 Reviewing attorney: Marie Milnes-Vasquez (202) 317-5327 Treasury attorney: Lisa Zarlenga (202) 622-0865 CC: Corp | |
Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: Undetermined |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Related RINs: Related to 1545-BM18 | |
Agency Contact: Stephen R. Cleary Attorney Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW., Room 5423, Washington, DC 20224 Phone:202 317-6847 Fax:855 561-0925 Email: stephen.r.cleary@irscounsel.treas.gov |