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TREAS/IRS | RIN: 1545-BO91 | Publication ID: Fall 2022 |
Title: Guidance on the Elimination of Interbank Offered Rates | |
Abstract:
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. |
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Agency: Department of the Treasury(TREAS) | Priority: Economically Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Yes | Unfunded Mandates: No |
CFR Citation: 26 CFR 1.882-5 | |
Legal Authority: 26 U.S.C. 882c and 7805 26 U.S.C. 7805 |
Legal Deadline:
None |
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Timetable:
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Additional Information: 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 | |
Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: Yes | |
Agency Contact: Caleb Trimm Attorney Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW, Room 4564, Washington, DC 20224 Phone:202 317-6002 Fax:855 589-8672 Email: caleb.w.trimm2@irscounsel.treas.gov |