26 U.S. Code § 860B - Taxation of holders of regular interests
In determining the tax under this chapter of any holder of a regular interest in a REMIC, such interest (if not otherwise a debt instrument) shall be treated as a debt instrument.
The amounts includible in gross income with respect to any regular interest in a REMIC shall be determined under the accrual method of accounting.
For special rules in determining inclusion of original issue discount on regular interests, see section 1272(a)(6).
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