1545-BO91 202304 Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Guidance on the Elimination of Interbank Offered Rates

The final regulations will provide guidance on the tax consequences of the phased elimination of interbank offered rates (IBORs) that is underway in the United States and many foreign countries. Taxpayers have requested guidance that addresses the transition from IBOR to other reference rates and the determination of the interest expense deduction of a foreign corporation.

]]> Economically Significant Previously Published in The Unified Agenda Final Rule Stage Yes No 26 CFR 1.882-5 26 U.S.C. 882c and 7805 26 U.S.C. 7805 No NPRM 10/09/2019 84 FR 54068 NPRM Comment Period End 11/25/2019 Final Action (TD 9961) 01/04/2022 87 FR 166 Final Action Effective 03/07/2022 Final Action 06/00/2023 REG-118784-18 (Final) ; REG-114451-22 (Final) Drafter attorney: Caleb Trimm (202) 317-6002 Reviewer attorney: Peter Merkel (202) 317-4919 Treasury attorney: Erika Nijenhuis (202) 622-0843 CC:INTL Yes Businesses None No No Yes No Caleb Trimm Attorney 1545 Internal Revenue Service IRS 202 317-6002 855 589-8672 caleb.w.trimm2@irscounsel.treas.gov 1111 Constitution Avenue NW, Room 4564, Washington DC 20224