The U.S. IRS and Treasury have issued final regulations providing Guidance: Transition from Interbank Offered Rates to Other Reference Rates (TD 9961). The regulations were formally published in the Federal Register on 4 January 2022 and are generally effective 60 days after publication. --- SUMMARY: This document contains final regulations that provide guidance on the tax consequences of the transition away from the use of certain interbank offered rates in debt instruments, derivative contracts, and other contracts. The final regulations are necessary to address the possibility that a modification of the terms of a contract to replace such an interbank...