Tax partner Eschi Rahimi-Laridjani and Tax associate Eileen Kuo recently authored “Federal Tax Legislative Developments – Treasury Releases Proposed Regulations on IBOR Transition,” published in the Journal of Taxation of Financial Products. Existing debt instruments such as loans, notes, and bonds and non-debt contracts such as derivatives, preferred stock and leases that reference interbank offered rates (“IBORs”), such as the London interbank offered rate (“LIBOR”) and USD LIBOR are expected to be amended in connection with the impending elimination of IBORs expected after the end of 2021. The article examines the primary tax concerns arising out of such amendments and discusses how they are addressed by the proposed regulations issued by the Treasury Department on October 9, 2019.
April 2020
