SIA Submits Comments to the IRS on the Section 475 Mark-to-Market Project
Published on:
April 29, 2002
The Committee on the Federal Taxation of the Securities of the Securities Industry Association (SIA) provides comments to the Internal Revenue Service (IRS) on the inclusion of the Internal Revenue Code Section 475 Mark-to-Market Project in the Industry Issue Resolution (IIR) Program, News Release 2002-47. SIA believes the inclusion of the exclusion methodology to be applied in auditing the mark-to-market accounting systems of dealers in U.S. dollar interest rate swaps and other U.S. dollar over-the-counter derivative contracts.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.