Treasury, IRS Officials Make Case for Spinoff Rule Reform

Treasury and IRS officials tried to address concerns about regulations in the works on the tax treatment of corporate spinoffs, saying that much of the current guidance has been made through private letter rulings rather than through clear regulations issued by the agencies.

“One of the key objectives of this guidance project is to put this type of guidance into an authoritative package—something that gets the benefit of notice and comment, something that folks that do not get the PLR still have the benefit of seeing that knowledge and seeing where those sets of lines are,” Colin Campbell, associate tax ...