OIRA review completed, section 385 proposed regulations | KPMG | US
Share with your friends

OIRA review completed on section 385 proposed regulations

OIRA review completed, section 385 proposed regulations

OMB’s Office of Information and Regulatory Affairs (OIRA) reports that its review of proposed Treasury regulations concerning section 385 and the treatment of certain interests between members of an expanded group was completed on August 28, 2018.


Related content

These proposed regulations were sent by the Treasury Department for OIRA review, having been identified as “major” regulations and thus subject to review by OMB’s OIRA before issuance pursuant to Executive Order 13771. Read TaxNewsFlash

The U.S. Treasury Department and IRS will now be expected to release the proposed regulations given that OIRA review was completed (according to information on the OIRA website).

The regulations are identified as: RIN: 1545-BO02 Treatment of certain interests between members of an expanded group

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal