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TREAS/IRS

RIN: 1545-BJ30

Publication ID: Fall 2010

Title: Modifications of Debt Instruments
Abstract: The proposed regulations relate to the modification of debt instruments. The regulations clarify the extent to which the deterioration in the financial condition of the issuer is taken into account to determine whether a modified debt instrument will be recharacterized as an instrument or property right that is not debt. The regulations provide needed guidance to issuers and holders of debt instruments.
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: Undetermined	Unfunded Mandates: Undetermined
CFR Citation: 26 CFR 1
Legal Authority: 26 USC 1001    26 USC 7805

Legal Deadline:  None

Timetable: Action Date FR Cite NPRM  06/04/2010  75 FR 31736    NPRM Comment Period End  08/03/2010     Outlines of Topics Due  08/11/2010     Public Hearing  09/08/2010     Final Action  12/00/2010

Additional Information: REG-106750-10 Drafting attorney: Diana A. Imholtz (202) 622-6934 Reviewing attorney: William E. Blanchard (202) 622-3950 Treasury attorney: Karl Walli (202) 622-5721 CC: FIP
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
Agency Contact: Diana Imholtz Attorney Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW., Room 3527, Washington, DC 20224 Phone:202 622-6934 Fax:202 622-6940 Email: diana.imholtz@irscounsel.treas.gov