Treatment of Acquisition of Certain Financial Institutions;
Certain Tax Consequences of Federal Financial
Assistance to Financial Institutions

[4830-01-u] DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 1, 301 and 602 [TD 8641] RIN 1545-AN71

TITLE: Treatment of Acquisition of Certain Financial Institutions; Certain Tax Consequences of Federal Financial Assistance to Financial Institutions

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final regulations.

SUMMARY: This document contains final regulations relating to Federal financial assistance, as defined in section 597(c) of the Internal Revenue Code, that is received by a financially troubled bank or thrift institution, and to acquisitions of financially troubled bank or thrift institutions in which Federal financial assistance is provided. This document also contains final regulations under section 7507. These regulations provide guidance concerning the proper tax treatment of various transactions involving the receipt of Federal financial assistance.

DATES: These regulations are effective [INSERT DATE THIS DOCUMENT IS PUBLISHED IN THE FEDERAL REGISTER]. For dates of applicability, see the "1.597-7 Effective date" section under the "SUPPLEMENTARY INFORMATION" portion of the preamble and the effective date provisions (1.597-7) of these regulations.

FOR FURTHER INFORMATION CONTACT: Steven M. Flanagan at 202-622-7790, Vicki J. Hyche at 202-622-7530, William D. Alexander at 202-622-7710, or Steven R. Glickstein at 202-622-4439 (not toll-free numbers).

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