Internal Revenue Service July 13, 2017 – Federal Register Recent Federal Regulation Documents

Transactions Involving the Transfer of No Net Value
Document Number: 2017-14723
Type: Proposed Rule
Date: 2017-07-13
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document withdraws the remaining part of a notice of proposed rulemaking containing proposed regulations that would have required an exchange or distribution of net value for certain corporate formations and reorganizations to qualify for nonrecognition treatment under the Internal Revenue Code (Code). Other parts of the notice of proposed rulemaking were previously adopted as final regulations. The proposed regulations being withdrawn also addressed the treatment of certain distributions not qualifying for tax-free treatment under section 332 of the Code. The proposed regulations being withdrawn would have affected corporations and their shareholders.