Tag Archives: Section 385

Treasury Would Overhaul 2016 Regulatory Guidance

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With tax reform on the horizon, Treasury takes aim at three sets of regulations with clear cross-border implications. Our International Tax Group explains the department’s recommendations to scrap much of Section 385 and overhaul Sections 367 and 987. Revoking the Section 385 documentation rules Expanding the active business exception to foreign goodwill under Section 367 Deferring transition rules under Section 987 to 2019 Read the full advisory here. [...]Read more

Federal Tax ADVISORY: Partial Worthlessness

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Don’t overlook claiming a deduction for partial worthlessness. Our Federal Tax Group provides a refresher on this useful tool.

  • Cross-border or brother-sister debt
  • A hard pill to swallow
  • Ordinary loss

Read the full advisory here.

International Tax Advisory: Treasury Issues Final & Temporary Section 385 Regulations

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Our International Tax Group explores the final debt-equity regulations under Section 385, highlighting significant modifications to the rules proposed last April. While the regulations remain controversial, the final version brings a number of taxpayer-friendly changes, including a reduction in scope and general delay in application.

Alston & Bird’s full International Tax advisory can be found here: www.alston.com/advisories/section-385-regulations 

Federal Tax Advisory: Enjoining Regulations

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Try and try again. Our Federal Tax Group analyzes how the U.S. Supreme Court thwarted a bankers association’s attempt to circumvent the Anti-Injunction Act.

Click here to read the full advisory.