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Regulations on interest in corporations as stock or indebtedness (OIRA review completed)

Regulations on interest in corporations

OMB’s Office of Information and Regulatory Affairs (OIRA) has completed its review of U.S. Treasury Department regulations concerning the tax treatment of certain interest in corporations as stock or indebtedness.

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Treasury regulations that are identified as “major” regulations are subject to review by OMB’s OIRA before being issued, pursuant to Executive Order 13771.

According to OIRA, review of these regulations was completed October 21, 2019. The regulations are identified on the OIRA website as:

  • RIN: 1545-BP51 -  The treatment of certain interests in corporations as stock or indebtedness

OIRA has identified the regulations as being at the “prerule” stage. Because there is very little information about these regulations provided by OIRA, some tax professionals suspect that these regulations could concern section 385. Now that OIRA review has been completed, Treasury and the IRS can be expected to release these regulations (the timing of their release is not known).

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