The IRS released proposed regulations (REG-118784-18, the “IBOR Conversion Proposed Regulations”) that in general favorably address a number of the U.S. federal income tax consequences of the conversion of existing debt instruments and non-debt contracts from interbank offered rates (“IBOR”s, which include various LIBOR or London Interbank Offered Rates) to an alternative reference rate. Read our commentary.
ComplianceMay 22, 2020