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TREAS/IRS RIN: 1545-BH86 Publication ID: Spring 2022 
Title: Attribute Reduction Following Reorganizations 

The proposed regulations contain guidance concerning the treatment of attributes in reorganizations under section 368(a)(1), where the acquiring corporation is a shareholder in the target corporation, the target corporation terminates its existence, is able to make a distribution on only one class of its stock, and the acquiring corporation succeeds to the target corporation's attributes under section 381, while the shareholder whose stock is eliminated for no consideration claims a loss. The proposed regulations provide that, to the extent such loss is duplicated in the attributes of the target corporation following its termination, the target corporation's attributes are reduced by the target corporation's attribute reduction amount.

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 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 7805   
Legal Deadline:  None
Action Date FR Cite
NPRM  12/00/2022 
Additional Information: REG-116446-08 (NPRM) Drafter attorney: Justin O. Kellar (202) 317-6847 Reviewer attorney: Julie Wang (202) 317-6975 Treasury attorney: Colin Campbell (202) 622-2297 CC:CORP
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:
Justin O. Kellar
Senior Technician Reviewer
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 5140,
Washington, DC 20224
Phone:202 317-6720
Fax:855 524-2088