OrbitaxIRS extends relief period for investments by CFCs in US debt obligations
|Approved Changes|US
The US Internal Revenue Service (IRS) has issued Notice 2008-91 announcing relief for income inclusions under the US Internal Revenue Code (IRC) with regard to earnings of controlled foreign corporations (CFCs) invested in US debt obligations.
Earnings of CFCs invested in US property are generally treated as having been repatriated to the United States, with an atte…
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