Renumbered & revised: RP-2018-7 to RP-2018-12
Internal Revenue Service (IRS) sent this bulletin at 01/31/2018 02:31 PM EST
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Issue Number: Renumbered & revised: RP-2018-7 to RP-2018-12Inside This Issue
Please note that Revenue Procedure 2018-7 released on January 23, 2018 has been renumbered and revised to Revenue Procedure 2018-12 with the following corrections:
The introductory paragraph of section 3.01(4) is corrected as follows:
“The transaction is effected pursuant to a binding contract that evidences the parties’ agreement as to the following terms:”
The second paragraph of section 4.02 is deleted and the third paragraph of section 4.02 is corrected as follows:
“The Measuring Period must end no later than the Closing Date, if the Closing Date is a trading day on the specified exchange. If the Closing Date is not a trading day, the Measuring Period must end no later than the last trading day before the Closing Date. If the Signing Date Rule applies to the transaction, the Measuring Period must end no earlier than three trading days before the Pre-signing Date. If the Closing Date Rule applies to the transaction, the Measuring Period must end no earlier than three trading days before the Closing Date.”
Additionally, the citations in section 6.03 are corrected from “Rev. Proc. 2017-1, 2017-1 I.R.B. 1, and Rev. Proc. 2017-3, 2017-3 I.R.B. 130” to “Rev. Proc. 2018-1, 2018-1 I.R.B. 1, and Rev. Proc. 2018-3, 2018-1 I.R.B. 130”.
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