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TREAS/IRS RIN: 1545-BC16 Publication ID: Fall 2010 
Title: Contingent at Closing Escrows 
Abstract: The regulations 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 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: No 
CFR Citation: 26 CFR 1    26 CFR 602   
Legal Authority: 26 USC 468B    26 USC 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  02/01/1999  64 FR 4801   
NPRM Comment Period End  05/03/1999    
Next Action Undetermined  To Be Determined    
Additional Information: REG-103422-03 Drafting attorney: Steven J. Gee (202) 622-4970 Reviewing attorney: Martin Scully (202) 622-4970 Treasury attorney: Donald Bakke (202) 622-0865 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