Overview
Steptoe partner Mark Silverman is quoted in articles published in Bloomberg BNA and Tax Analysts covering the Internal Revenue Service’s (IRS) recent decision to rethink its tax-free spinoff and reorganization rules that address only one or more significant issues rather than the entire transaction.
In the articles, Mr. Silverman welcomes the government’s decision to not challenge “triple drop and check” transactions before revoking the ruling. He tells Bloomberg BNA, “I think the IRS position makes sense… I believe the new rulings are correct and it is not productive to assert different positions based on an earlier revenue ruling.”
The full articles can be read at Bloomberg BNA and Tax Analysts (subscriptions required).