Shearman And Sterling

News October 09, 2019

Kristen Garry in Bloomberg Law on the New IBOR Tax Guidance

Partner Kristen Garry (Washington, D.C.-Tax) was quoted in Bloomberg Law on the new tax rules on IBOR-transition modifications that were released by the IRS this week.

The proposed regulations provide welcome guidance that certain IBOR-related modifications will not create a taxable event and can be applied broadly to virtually any debt instrument or other financial contract that currently refers to an IBOR rate.

Read the full Bloomberg Law article.