{"abstract":"This document contains proposed regulations that would provide guidance regarding whether a debt instrument is worthless for Federal income tax purposes. The proposed regulations are necessary to update the standard for determining when a debt instrument held by a regulated financial company or a member of a regulated financial group will be conclusively presumed to be worthless. The proposed regulations will affect regulated financial companies and members of regulated financial groups that hold debt instruments.","action":"Notice of proposed rulemaking.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Internal Revenue Service","name":"Internal Revenue Service","id":254,"url":"https://www.federalregister.gov/agencies/internal-revenue-service","json_url":"https://www.federalregister.gov/api/v1/agencies/254","parent_id":497,"slug":"internal-revenue-service"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2023/12/28/2023-28589.html","cfr_references":[{"chapter":null,"citation_url":null,"part":1,"title":26}],"citation":"88 FR 89636","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Written or electronic comments and requests for a public hearing must be received by February 26, 2024.","disposition_notes":null,"docket_ids":["REG-121010-17"],"dockets":[{"supporting_documents":[],"agency_name":"IRS","documents":[{"comment_count":5,"comment_start_date":"2023-12-28","updated_at":"2024-08-17T01:01:56.296-04:00","comment_url":"https://www.regulations.gov/commenton/IRS-2023-0067-0001","allow_late_comments":null,"id":"IRS-2023-0067-0001","comment_end_date":"2024-02-27","regulations_dot_gov_open_for_comment":false}],"supporting_documents_count":0,"id":"IRS-2023-0067","title":"Bad Debt Deductions for Regulated Financial Companies and Members of Regulated Financial Groups (REG-121010-17)"}],"document_number":"2023-28589","effective_on":null,"end_page":89644,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2023/12/28/2023-28589.xml","html_url":"https://www.federalregister.gov/documents/2023/12/28/2023-28589/bad-debt-deductions-for-regulated-financial-companies-and-members-of-regulated-financial-groups","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2023-28589?publication_date=2023-12-28","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2023-12-28/2023-28589/mods.xml","not_received_for_publication":null,"page_length":9,"page_views":{"count":1220,"last_updated":"2026-04-04 12:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2023-12-28/pdf/2023-28589.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-28589.pdf?1703684722","publication_date":"2023-12-28","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2023/12/28/2023-28589.txt","regulation_id_number_info":{"1545-BO11":{"issue":"202410","html_url":"https://www.federalregister.gov/regulations/1545-BO11/bad-debt-deductions","title":"Bad Debt Deductions","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202410&RIN=1545-BO11&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1545-BO11"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/1545-BO11/bad-debt-deductions","title":"Bad Debt Deductions"},"comments_count":5,"agency_id":"IRS","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=IRS-2023-0067","supporting_documents_count":0,"docket_id":"IRS-2023-0067","document_id":"IRS-2023-0067-0001","regulation_id_number":"1545-BO11","title":"Bad Debt Deductions for Regulated Financial Companies and Members of Regulated Financial Groups (REG-121010-17)","checked_regulationsdotgov_at":"2024-08-18T01:00:11Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":89636,"subtype":null,"title":"Bad Debt Deductions for Regulated Financial Companies and Members of Regulated Financial Groups","toc_doc":"Bad Debt Deductions for Regulated Financial Companies and Members of Regulated Financial Groups","toc_subject":null,"topics":["Income taxes","Reporting and recordkeeping requirements"],"type":"Proposed Rule","volume":88}