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Final and proposed regulations issued on taxation of earnings of CFCs

|Approved Changes|United States
United States

The Treasury Department and Internal Revenue Service (IRS) have issued final and proposed regulations on the taxation of earnings of controlled foreign corporations (CFCs). The regulations were issued pursuant to Sec. 951(a) of the Internal Revenue Code (IRC), which requires each US shareholder of a CFC to include in income that shareholder's pro rata share of the CFC's Subpart F income and certai…

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