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TREAS/IRS RIN: 1545-BO91 Publication ID: Spring 2019 
Title: Guidance on the Elimination of Interbank Offered Rates 

The proposed regulations 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 whether a modification to a debt instrument or derivative to accommodate the elimination of the relevant IBOR will be treated as a realization event for federal income tax purposes.

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 13771 Designation: Other 
CFR Citation: 26 CFR 1.1001-6   
Legal Authority: 26 U.S.C. 1001b and 7805   
Legal Deadline:  None
Action Date FR Cite
NPRM  12/00/2019 
Additional Information: REG-118784-18 (NPRM) Drafting attorney: Caitlin Holzem (202) 317-6842 Reviewing attorney: Spence Hanemann (202) 317-4554 Treasury attorney: Brett York (202) 622-1285 CC:FIP
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Caitlin Holzem
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 3547,
Washington, DC 20224
Phone:202 317-7036
Fax:855 574-9023