Source: http://intltax.typepad.com/intltax_blog/7874-inversions/
Timestamp: 2016-02-10 17:40:50
Document Index: 528588418

Matched Legal Cases: ['§304', '§956', '§7874', '§7874', '§368', '§992']

International Tax Blog: 7874 Corporate Inversions International Tax Blog
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 use of creative loans, which are known as “hopscotch” loans (action under Code §956(e)). Prevent inverted companies from restructuring a foreign subsidiary in order to...
Today we published a new video discussing Why U.S. Companies Invert. The video is embedded below:
Last week the IRS released PLR 201432002, where it applied the anti-inversion rules of Code §7874. The IRS ruled that a newly formed foreign corporation was not a surrogate foreign corporation (i.e., there was no inversion) under Code §7874 where it acquired a U.S. corporation from a foreign corporation in a Code §368(a)(1)(F) reorganization that was followed by a private placement and an IPO. The shares of the new foreign corporation were excluded from the...
International PLRs of the 42nd week of 2012
Several weeks ago the IRS published the following Private Letter Rulings relating to international taxation. PLR 201242001 - Late IC DISC election. Form 4876-A. Code §992(b)(1)(A). PLR 201242004 - Late Canadian registered retirement savings plan ("RRSP") deferral election. Form 8891. Rev. Proc. 2002-23. PLR 201242007 - A U.S. LLC contributed cash to newly formed foreign corporation. The foreign corporation, immediately thereafter and pursuant to a preexisting binding commitment, used the contributed cash to purchase certain...
Posted on November 05, 2012 in 351 Exchanges, 991 IC DISC, 7874 Corporate Inversions, Authority - PLRs / CCAs, Country - Canada, Form 8891 | Permalink