IRS Proposes New Definition of ‘Publicly Traded’ Property for Purposes of Determining the Issue Price of a Debt Instrument

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On January 6, 2011, the Internal Revenue Service released proposed rules (REG-131947-10) under U.S. Treasury Department regulation 1.1273-2 that simplify and clarify when property is considered to be “publicly traded” for purposes of determining the issue price of a publicly traded debt instrument and the fair market value of publicly traded property received in exchange for a debt instrument.

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