The Treasury and IRS have issued proposed regulations that address the treatment of foreign currency gain or loss of a controlled foreign corporation (CFC) under the business needs exclusion from foreign personal holding company income (FPHCI). The proposed regulations also provide an election for a taxpayer to use a mark-to-market method of accounting for foreign […]
The post Proposed Regs Issued on Foreign Currency Gain or Loss of CFCs and Mark-to-Market Election (NPRM REG-119514-15) appeared first on Tax & Accounting Blog.