Flurry of Debt-Equity Reg Comments at Deadline Despite Glitch

Peter Faber said in comments to the IRS that the new Section 385 debt or equity proposal “goes way beyond the abuse at which it is aimed” and that Treasury and the IRS should pursue a different approach rather than “adopting sweeping changes to the definition of debt, overturning principles of law that have developed over the years and that are well understood by the private sector and by the Internal Revenue Service.”