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TREAS/IRS RIN: 1545-BN93 Publication ID: Spring 2024 
Title: Interest Capitalization Requirements for Improvements to Designated Property 
Abstract:

The proposed regulations modify the interest capitalization requirements relating to improvements made to designated property.  Specifically, the proposed regulations clarify the definition of an improvement and remove the associated property rule and similar rules from the regulations. The proposed regulations follow the United States Court of Appeals for the Federal Circuit's rationale and holding in Dominion Resources, Inc. v. United States, 681 F.3d.1313 (Fed. Cir. 2012).

 
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: 26 CFR 1.263A-B    26 CFR 1.263A-11   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 263A   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  07/00/2024 
Additional Information: REG-133850-13 (NPRM) Drafter attorney: Livia M. Piccolo (202) 317-7007 Reviewer attorney: Roy Hirschhorn (202) 317-7007 Treasury attorney: Dan Penrith (202) 679-2039 CC:ITA:6
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:
Livia M. Piccolo
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW,
Washington, DC 20224
Phone:202 317-7007
Fax:855 576-2340
Email: livia.m.piccolo@irscounsel.treas.gov