Source: http://intltax.typepad.com/intltax_blog/1248-sales-of-cfcs/
Timestamp: 2017-03-25 05:56:51
Document Index: 217383924

Matched Legal Cases: ['§1248', '§1248', '§7874', '§304', '§ 367', '§ 304', '§ 367', '§ 332']

International Tax Blog: 1248 Sales of CFCs International Tax Blog
1248 Sales of CFCs
Sale of Stock of a CFC – Example of the Potential Benefit of Code §1248(b)
Code §1248(a) generally provides that gain recognized on the sale or exchange by a United States person of stock in a foreign corporation must be included in the gross income of the U.S. person as a dividend to the extent of the foreign corporation’s earnings and profits that were accumulated while the stock was held by the U.S. person and the foreign corporation was a CFC. The amount of U.S. tax due on the Code...
Posted on January 26, 2016 in 1248 Sales of CFCs | Permalink
UPDATE - 11/1/16: Notice 2014-52 was made obsolete by T.D. 9761. See our blog post Over 50 New Situational Charts – Code §7874 Regulation Examples. On September 22, 2014, the IRS released Notice 2014-52. The notice announced that regulations will be issued under Code §§304(b)(5)(B), 367, 956(e), 7701(l), and 7874 to target corporate inversions. In summary, the notice aims to: Prevent inverted companies from accessing a foreign subsidiary’s earnings while deferring U.S. tax through the...
Modifications to Section 367 in Outbound Section 304 Transactions
On February 10, 2009 the I.R.S. and Treasury Department issued temporary regulations in Treasury Decision 9444 regarding the application of Code § 367(a) and (b) with respect to Code § 304 transactions. Code § 367(a)(1) generally provides that if a United States person transfers property to a foreign corporation in an exchange described in Code § 332, 351, 354, 356, or 361, the foreign corporation shall not be considered a corporation for purposes of determining...
Posted on February 27, 2009 in 1248 Sales of CFCs, Authority - Treasury Decisions, Charts - Situational Charts | Permalink