RP-2016-45: Letter rulings, Section 355 transactions

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August 26, 2016

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Issue Number: RP-2016-45

Inside This Issue

Revenue Procedure 2016-45 modifies Rev. Proc. 2016-3, 2016-1 I.R.B. 126, which sets forth areas of the Internal Revenue Code (Code) on which the Internal Revenue Service (Service) will not issue letter rulings or determination letters (no-rule areas), by removing two no-rule areas relating to distributions of stock of controlled corporations under § 355 of the Code.

Revenue Procedure 2016-45 will be in IRB 2016-37, dated September 12, 2016.

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