IRS notice provides new rules on treatment of assets acquired in bailout

02/5/2009 | JournalofAccountancy.com

The IRS has issued a second notice providing guidance on the treatment of preferred stock, indebtedness and warrants to purchase stock acquired by Treasury as part of the bailout's Troubled Asset Relief Program. Notice 2009-14 also deals with stock redemptions and capital contributions by Treasury. The new guidance clarifies and supersedes the earlier guidance provided in Notice 2008-100.

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