Treasury · Proposed rule · Rel 100 (Federal Register (major agencies))
Guidance Under Section 355 Concerning Device and Active Trade or Business; Partial Withdrawal
Other · general
Source summary
This document partially withdraws a notice of proposed rulemaking containing proposed regulations regarding the application of the device prohibition and the active trade or business requirement for distributions of controlled corporation stock (or stock and securities) by a distributing corporation without income, gain, or loss. The proposed regulations would affect corporations and their shareholders and security holders.
Analyst note
Treasury advanced a proposed action that may change compliance expectations in other. Monitor comment deadlines and implementation timelines for client exposure.
Public reaction (Reddit)
Insufficient public reaction to score sentiment.