Insight
Proposed Treasury regulations address tax issues arising from LIBOR's cessation
In anticipation of LIBOR's phase-out, the U.S. Treasury Department and Internal Revenue Service released proposed rules in October 2019 to address the tax treatment of alterations made to instruments to replace an IBOR-based rate with an alternative rate.
In July 2017, the U.K. Financial Conduct Authority—the regulator of the London Interbank Offered Rate (LIBOR)—announced that all currency and term variants of LIBOR (IBORs) will likely be phased out after 2021. The following article, The End of LIBOR, examines the proposed IBOR regulations from Treasury, covering:
- What to keep in mind—tax issues arising from LIBOR's end
- An overview of the proposed Treasury regulations
- Initial observations from KPMG
Download the article to learn more about the proposed LIBOR regulations and the potential impact to taxpayers