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PART III. ENCLOSURES

SECTION 5. APPLICATION

Internal Revenue Bulletin 2008-35 · 2026-10-03 edition · updated 2026-10-04 · United States

If this revenue procedure applies to a debt instrument, the Service will not treat the debt instrument as an AHYDO for purposes of §§ 163(e)(5) and 163(i).

pursuant to a Financing Commitment) potentially raises adverse income tax consequences in situations in which the issue price of the debt instrument is less than the cash actually received by the corporation for the debt instrument issued pursuant to the Financing Commitment. For example, interest deductions on the debt instrument may be disallowed under § 163(e)(5).

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▸Contents — Internal Revenue Bulletin 2008-35
Internal Revenue Bulletin 2008-35

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