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TREAS/IRS RIN: 1545-BB98 Publication ID: Fall 2004 
Title: Reduction of Tax Attributes Due To Discharge of Indebtedness Income 
Abstract: The regulations clarify that if a taxpayer realizes, but excludes, COD income either during or after the taxable year for which the taxpayer is the distributor or transferor of assets for a transaction described in section 381(a), those tax attributes to which the acquiring corporation succeeds, including basis of property, must reflect the reductions required by section 108(b). 
Agency: Department of the Treasury(TREAS)  Priority: Routine and Frequent 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1   
Legal Authority: 26 USC 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  07/18/2003  68 FR 42652   
Final Action Completed by TD 9127  05/11/2004  69 FR 26038   
Additional Information: REG-113112-03 Drafting attorney: Theresa M. Kolish (202) 622-7530 Reviewing attorney: Steve Hankin (202) 622-7530 Treasury attorney: Audrey Nacamuli (202) 622-5721 CC:CORP
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
Related RINs: Related to 1545-BC47 
Agency Contact:
Theresa M. Kolish
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 5405,
Washington, DC 20224
Phone:202 622-6163
Fax:202 622-7556
Email: theresa.m.kolish@irscounsel.treas.gov