# Guidance on the Transition From Interbank Offered Rates to Other Reference Rates
> **IRS** · Final regulations. · Published 2022-01-04 · Effective 2022-03-07 · 87 FR 166
## Document
- **Document number:** 2021-28452
- **Category:** tax-irs
- **Sub-agency:** IRS
- **Federal Register citation:** 87 FR 166
- **CFR reference:** 26 CFR 1
- **Publication date:** 2022-01-04
- **Effective date:** 2022-03-07
- **Treasury docket:** TD 9961
## Abstract

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 offered rate with a new reference rate could result in the realization of income, deduction, gain, or loss for Federal income tax purposes or could have other tax consequences. The final regulations will affect parties to contracts that reference certain interbank offered rates.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2022/01/04/2021-28452/guidance-on-the-transition-from-interbank-offered-rates-to-other-reference-rates)
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