The U.S. IRS has issued Revenue Procedure (Rev. Proc.) 2020-30, which provides guidance that certain temporary activities conducted by an individual in a foreign country will not give rise to a foreign branch separate unit for purposes of the dual consolidated loss rules or an obligation to file Form 8858 in light of COVID-19 travel disruptions. --- Purpose As a result of travel restrictions and disruptions resulting from the global outbreak of the virus that causes COVID-19 (the "COVID-19 Emergency"), individuals may temporarily conduct activities in a country other than the United States or in a territory of the United...