About 12 weeks after issuing temporary rules (T.D. 9627) that immediately cut off taxpayers' ability to use identified mixed straddles (IMSs), Treasury changed its mind, amending the rules effective upon finalization, which it said it expects to happen before June 30, 2014, the end of the current guidance plan year. According to the preamble, "The Treasury Department and the IRS received comments raising concerns about the immediate applicability date of the temporary regulations. In response to those comments, this document amends the temporary regulations," issued in August, by pushing back the applicability date.
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