New PFIC QEF election regulations encourage purging PFIC taint of a CFC/PFIC for 1997 tax year. (passive foreign investment company, qualified ... An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on June 1, 1998. The length of the article is 941 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Timely elections under IRC 1298(b)(1) can result in US corporations limiting the negative tax consequences of their share ownership in controlled foreign corporations which are passive foreign investment companies. Corporations need to comply with specified requirements including paying tax resulting from deemed dividend or deemed sale elections under IRS regulations. Corporations should refer to IRS regulations issued on Jan 2, 1998.

Citation Details
Title: New PFIC QEF election regulations encourage purging PFIC taint of a CFC/PFIC for 1997 tax year. (passive foreign investment company, qualified electing fund, controlled foreign corporation)
Author: David Chan
Publication:The Tax Adviser (Magazine/Journal)
Date: June 1, 1998
Publisher: American Institute of CPA's
Volume: 29 Issue: n6 Page: 377(1)

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