Finanse publiczne · 11/12/2020

IRS Issues Final Regulations on Source of Income from Sales of Inventory and Personal Property

The Internal Revenue Service (IRS) has released final regulations modifying the rules for determining the source of income from sales of inventory produced within the United States and sold without the United States or vice versa. The new rules also apply to nonresidents with a U.S. office, and modify rules for foreign source income effectively connected with U.S. trade or business.