San Diego Law Review


Terri Guinn

Library of Congress Authority File


Document Type



"Fire, Aim, Ready!" Could this be the approach taken by the Internal Revenue Service (the Service) in its attempt to finalize regulations, proposed more than two years ago, that would specify a new method for determining a shareholder's taxable gains and losses in certain reorganization transactions? Has the Service decided to elevate theory over practicality without thinking through all of the ramifications of these regulations? Finalizing these proposed regulations in their current form may have serious unintended consequences. As drafted, they miss their intended mark by inadvertently creating a loophole whereby some shareholders could take immediate losses on some of their shares when, in reality, they have an overall gain. This Comment will explain why the proposed 2009 regulations set poor policy and are inconsistent with congressional intent.

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