Wednesday, May 25, 2016

Proposed 385 Regs: IRS Will Look Back 3 Years at Your Loans


Association for Financial Professionals, Articles - RSS Feed http://ift.tt/1WTXQ4B Imagine a scenario where the IRS looks back three years at an intercompany loan you made to a foreign subsidiary and determines that it is equity. At the very least, you would have to pay more taxes and re-state your financial statements. That’s just one nightmare scenario envisioned under proposed changes to IRS section 385 rules.

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