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TREAS/IRS RIN: 1545-BO07 Publication ID: Spring 2025 
Title: Modification of Regulations Under Section 987 on Income and Currency Gain or Loss With Respect to a Section 987 Qualified Business Unit 
Abstract:

This document will finalize proposed regulations that simplify the rules dealing with the determination and translation of the taxable income or loss of a taxpayer with respect to a qualified business unit subject to section 987, as well as the timing, amount, character, and source of any section 987 currency gain or loss.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 14192 Designation: Other 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 987    26 U.S.C. 989   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  11/14/2023  88 FR 78134   
NPRM Comment Period End  02/12/2024 
Final Action completed by TD 10016  12/11/2024  89 FR 100138   
NPRM  05/00/2026 
Additional Information: REG-132422-17 (Final) Drafter attorney: Adam Province (615) 250-5237 Reviewer attorney: Raphael J. Cohen (202) 317-6938 Treasury attorneys: Erika W. Nijenhuis (202) 622-0843; and Paul Crispino (202) 622-2754 CC:INTL
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:
Adam Province
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue, NW , Room 4579,
Washington, DC 20224
Phone:865 329-4546
Email: adam.g.province@irscounsel.treas.gov