Finance & markets · 11/08/2020Updated: 10/17/2026 · 1 min read
IRS Issues Correction to Hybrid Deduction Regulations
Summary
The IRS has issued a correction to its proposed regulations regarding hybrid deduction accounts, which adjust for earnings and profits of controlled foreign corporations included in US shareholder income. The correction addresses a notice of proposed rulemaking published in the Federal Register on April 8, 2020.