The U.S. IRS and Treasury have issued final regulations providing Guidance: Transition from Interbank Offered Rates to Other Reference Rates (TD 9961). The regulations were formally published in the Federal Register on 4 January 2022 and are generally effective 60 days after publication.
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SUMMARY: This document contains final regulations that provide guidance on the tax consequences of the transition away from the use of certain interbank offered rates in debt instruments, derivative c…