Narrow Types of CFCs Subject to Interest Deduction Limit, Firm Says

Tax AnalystsBy Tax Analyst

Steptoe & Johnson LLP has asked that the proposed section 163(j) business interest deduction limit not apply to controlled foreign corporations that earn no effectively connected income or that Treasury consider alternatives, such as adopting the firm's recommended safe harbors or applying section 163(j) only to CFCs with specified characteristics.

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By Tax Analyst, posted on Wednesday July 10, 2019
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