IRS Delays Part Of Recent Rule On Mixed Straddles

Law360, New York (October 30, 2013, 8:02 PM EDT) -- An Internal Revenue Service proposed regulation on so-called mixed straddles that went live in August has been partially stalled until the U.S. Department of Treasury issues a final version, according to an IRS notice issued Tuesday.

The IRS' temporary regulation — which describes when taxpayers can realize their gains or losses on certain positions, like foreign currency contracts, before obtaining new ones to offset their current holdings —  immediately went into effect when it was announced Aug. 2. However, the agency says a provision describing how...
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