This content was published prior to the merger of equals between BKD and DHG on June 1, 2022. See all FORsights for the most up-to-date articles, webinars, and videos.
Tax Considerations for LIBOR Transition
The IRS recognizes that transition from the London Interbank Offered Rate (LIBOR) can have federal income tax implications. Finalization of the IRS’s proposed regulations has been delayed due to the COVID-19 pandemic; however, the IRS has confirmed taxpayers generally can apply proposed rules on taxable events prior to the publication of final rules. This article summarizes the tax relief available.