IRS To Extend Spinoff Guidance Program Past Original Cutoff

By Vidya Kauri (February 26, 2019, 5:39 PM EST) -- An 18-month pilot program under which corporations could request private rulings from the IRS on the tax consequences of distributing stock or securities will continue unabated past its original March 21 expiration date, an agency spokesperson said Tuesday.

The IRS' 18-month private letter ruling program for businesses planning certain spinoff transactions will be extended. (AP) A spokesperson for the Internal Revenue Service told Law360 that the private letter ruling program for businesses planning spinoff transactions under Section 355 of the tax code will not end next month, as had been planned.

"The IRS plans to extend the program, the full ruling...

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