INCOME TAX

T.D. 8752, page 4. Final regulations under sections 354, 355, and 356 of the Code provide for nonrecognition of gain or loss on the receipt, in pursuance of a reorganization, of rights to acquire stock of a corporation that is a party to the reorganization.

T.D. 8753, page 6. REG–121755–97, page 13. Temporary and proposed regulations provide guidance under section 356(e) of the Code on when nonqualified preferred stock will not be treated as stock or securities for purposes of sections 354, 355, and 356 of the Code. A public hearing on the proposed regulations will be held on May 5, 1998.