Andersen Managing Director Joe Calianno's comments are featured in the recent Tax Notes article, IRS Narrows Scope of Excess Asset Basis Rules in ‘Killer B' Regs. The article covers recently proposed regulations on Sec. 367(b) related to so-called Killer B triangular reorganizations. The proposed rules follow earlier IRS notices, which aim to block certain types of transactions using Killer Bs. In the article, Joe characterized the interplay between earlier IRS guidance and Killer B transactions as a "cat and mouse game," which had largely shut down the transactions. He added that the scaling back of the excess asset basis rules in the proposed regulations was a positive development.