This session will provide an overview of the federal income tax consequences of the transition away from the use of certain interbank offered rates in debt instruments, derivative contracts, and other contracts, exploring the proposed and final Treasury regulations and Revenue Procedure 2020-44, as well as scenarios to which they may or may not apply.
After this session, participants will be able to:
Understand federal income tax considerations associated with the discontinuation of LIBOR;
Identify applicable Treasury/IRS guidance in this area
Appreciate key tax issues that may arise during the transition away from the use of LIBORs.
Member, TEI's Federal Tax Committee and SVP, Corporate Tax Director, Comerica,