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TREAS/IRS RIN: 1545-BO11 Publication ID: Spring 2025 
Title: Bad Debt Deductions 
Abstract:

The final regulations would provide guidance on when a loan held by a regulated financial company or a member of a regulated financial group would be conclusively presumed to be worthless for purposes of section 166 of the Internal Revenue Code.  The final regulations would replace existing outdated rules with simplified rules that would allow these entities to charge off debts in accordance with U.S. GAAP and regulatory rules. The final regulations would reduce compliance costs for taxpayers and the IRS. 

 
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: No  Unfunded Mandates: No 
EO 14192 Designation: Deregulatory 
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. 166   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/28/2023  88 FR 89636   
NPRM Comment Period End  02/26/2024 
Final Action  12/00/2025 
Additional Information: REG-121010-17 (Final) Drafter attorney: Stephanie Floyd (202) 317-7053 Reviewer attorney: Jason Kristall (202) 317-6945 Treasury attorney: Erika W. Nijenhuis (202) 622-0843 CC: FIP
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Stephanie D. Floyd
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 3547,
Washington, DC 20224
Phone:202 317-7053
Fax:855 574-9024
Email: stephanie.d.floyd@irscounsel.treas.gov