Proposed Rules Would Exempt Corporate U.S. Shareholders from Sec. 956
The IRS issued proposed regulations that Sec. 956, which requires an income inclusion by U.S. shareholders of controlled foreign corporations (CFCs) that invest in U.S. property, should not apply to corporate shareholders.
To read the full article in Journal of Accountancy, click: Proposed Rules Would Exempt Corporate U.S. Shareholders from Sec. 956.