Finance & markets · 29/08/2003

IRS Proposes Regulations on Contingent Payment Debt Instruments in Nonfunctional Currencies

The IRS has released proposed regulations on the tax treatment of contingent payment debt instruments denominated in nonfunctional currencies, which taxpayers must apply with modifications to existing rules under section 1275 of the Internal Revenue Code, and withdraws existing proposed regulations, announcing a public hearing on the new rules.