Regulation & law · 29/09/2008

Internal Revenue Service Corrects Proposed Regulations on Foreign Corporation Transfers and Distributions

The IRS has issued corrections to proposed regulations on the transfer of property by domestic corporations to foreign corporations, as well as distributions of foreign corporation stock, in compliance with the Internal Revenue Code. The corrections address previously proposed rules under sections 367(a)(5), 367(b), 1248(e), 1248(f), and 6038B of the Internal Revenue Code.