IRS Cancels Proposed Regulations Relating to Foreign Currency Gains and Losses Under § 987, Issues New Proposed Regulations.The article reports on the new proposed regulations, which have been issued by the United States Internal Revenue Service on September 6, 2006. These new regulations have ...
Controlled foreign corporations (CFCs) Cross-border mergers and acquisitions Currency transactions and issues Domestic international sales corporations Expatriate taxation FATCA Foreign tax credit Foreign-source income Global intangible low-taxed income (GILTI) Information exchange International taxation Nonresident...
Internal Revenue Service has canceled proposed regulations relating to foreign currency gains and losses under the Section 987 of the Internal Revenue Code. The regulations address the income recognition rules applicable to qualified business units (QBU) doing business in a functional currency other than...