On the same day that the Securities and Exchange Commission issued long-awaited rules for money market mutual funds, the Internal Revenue Service has issued its own rules for money market funds and wash sales.

Revenue Procedure 2014-45 describes the circumstances in which the IRS will not treat a redemption of shares in a money market fund as part of a wash sale. Revenue Procedure 2014-45 responds to SEC rules that change how certain money market fund shares are priced.

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