The Resource Notice 2016-73 : expanding the frontiers of the all E & P amount

Notice 2016-73 : expanding the frontiers of the all E & P amount

Label
Notice 2016-73 : expanding the frontiers of the all E & P amount
Title
Notice 2016-73 : expanding the frontiers of the all E & P amount
Creator
Subject
Language
  • eng
  • eng
Summary
On 2 December 2016, the IRS and the Treasury issued Notice 2016-73 (the Notice). The Notice targets certain cross-border triangular reorganizations and inbound liquidation and reorganization transactions designed to repatriate foreign earnings or basis without incurring U.S. tax. The Notice is the latest in a long history of guidance aimed at such transactions by way of administrative fiat over the past decade. The Notice promises several new rules. This article focuses on the impact the Notice has on all inbound nonrecognition transactions. Namely, the Notice states an intention to alter Reg. Par. 1.367(b)-2(d)(3)(ii) to provide that, if there is "excess asset basis" with respect to a liquidating or domesticating "foreign acquired corporation", the income inclusion amount with respect to the stock in the foreign-acquired corporation will be increased to include not only the earnings and profits (E & P) of the foreign acquired corporation but also its subsidiaries' E & P
Citation source
In: International tax journal. - Riverwoods. - Vol. 43 (2017), no. 3 (May-June) ; p. 15-22, 66-67
http://library.link/vocab/creatorName
  • McHoney, D.L
  • Genrizi, M
  • Ramstetter, P. (Jr.)
Geographic coverage
North America
Language note
English
http://library.link/vocab/subjectName
  • triangular reorganization
  • liquidation
  • repatriation
Label
Notice 2016-73 : expanding the frontiers of the all E & P amount
Link
https://library.ibfd.org/custom/web/SD_PDF/scans/2017/G-I/ITJ/3_15-22.pdf
Publication
Note
20170825

Library Locations

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      52.3736660 4.9336932
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