1545-BN85 202304 Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Limitation on Bond Repurchase Premium Deduction on Convertible Debt

The proposed regulations will revise the guidance under section 249 of the Internal Revenue Code relating to the limitation on the deduction for bond repurchase premium on convertible debt. For example, to reduce controversies between taxpayers and the IRS, the proposed regulations will revise the existing guidance to provide clearer standards to determine the amount of any bond repurchase premium that is deductible by the issuer.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Proposed Rule Stage No No 26 CFR 1.249-1 26 U.S.C. 7805 26 U.S.C. 249 No NPRM 12/00/2023 REG-127325-15 (NPRM) Drafter attorney: Tom Coony (202) 317-4321 Reviewer attorney: Charles Culmer (202) 317-4528 Treasury attorney: N/A CC:FIP Undetermined No None No No No Thomas Coony Attorney 1545 Internal Revenue Service IRS 202 317-4321 855 574-9023 thomas.e.coony@irscounsel.treas.gov 1111 Constitution Avenue NW., Room 3547, Washington DC 20224