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IRS States No New Guidance On Repatriation Tax

According to Law360, the Internal Revenue Service isn't planning to issue additional guidance on the 2017 tax overhaul's deemed repatriation despite a recent announcement that the agency was considering relief for some companies in this area, a top official said January 31, 2020.

The agency learned of "few sympathetic cases" in which companies were excessively taxed under the Tax Cuts and Jobs Act's transition levy on overseas income, said Peter Blessing, the IRS associate chief counsel, international, at the American Bar Association


Read more at: Tax Times blog

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