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TREAS/IRS RIN: 1545-BO06 Publication ID: Fall 2023 
Title: Foreign Currency Contracts Under Section 1256(g)(2) 

The regulation will finalize proposed regulations providing guidance concerning the definition of a foreign currency contract under section 1256(g)(2) of the Internal Revenue Code.  Taxpayers and tax professionals have expressed a need for regulatory guidance in light of the decision in Wright v. Commissioner, 809 F.3d 877 (6th Cir. 2016).

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final 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. 1256(g)(2)(B)    26 U.S.C. 7805   
Legal Deadline:  None
Action Date FR Cite
NPRM  07/06/2022  87 FR 40168   
NPRM Comment Period End  09/06/2022 
Final Action  03/00/2024 
Additional Information: REG-130675-17 (Final) Drafter attorney: Karen Walny (202) 317-6938 Reviewer attorney: Peter Merkel (202) 317-6938 Treasury attorney: Erika Nijenhuis (202) 622-0843 CC:INTL
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Karen Walny
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 4562,
Washington, DC 20224
Phone:202 317-6938
Fax:202 317-4922