1545-BN93 202210 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Interest Capitalization Requirements for Improvements to Designated Property

The proposed regulations modify the interest capitalization requirements relating to improvements made to designated property.  Specifically, the proposed regulations clarify the definition of an improvement and remove the associated property rule and similar rules from the regulations. The proposed regulations follow the United States Court of Appeals for the Federal Circuit's rationale and holding in Dominion Resources, Inc. v. United States, 681 F.3d.1313 (Fed. Cir. 2012).

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Proposed Rule Stage No No 26 CFR 1.263A-B 26 CFR 1.263A-11 26 U.S.C. 7805 26 U.S.C. 263A No NPRM 12/00/2022 REG-133850-13 (NPRM) Drafter attorney: Livia M. Piccolo (202) 317-7007 Reviewer attorney: Roy Hirschhorn (202) 317-7007 Treasury attorney: Wendy Friese (202) 622-5721 CC:ITA:6 No None No No No No Livia Piccolo M. Attorney 1545 Internal Revenue Service IRS 202 317-7007 855 576-2340 livia.m.piccolo@irscounsel.treas.gov 1111 Constitution Avenue NW, Washington DC 20224