HOUSE 2847117th CongressReferred to the House Committee on Ways and Means.

To amend the Internal Revenue Code of 1986 to restore the limitation on downward attribution of stock ownership in applying the constructive ownership rules to controlled foreign corporations, and for other purposes.

Last Action: 4/26/2021

Actions

2021-04-26Referred to the House Committee on Ways and Means.
2021-04-26Introduced in House
2021-04-26Introduced in House

CRS Summary

As of 2021-04-26 (00)

This bill restores the limitation on downward attribution rules to 50% of stock ownership in applying constructive ownership rules to controlled foreign corporations.

Cosponsors (4)

A. Ferguson (R-GA)
Bradley Schneider (D-IL)
Ron Estes (R-KS)
Lucy McBath (D-GA)

Subjects

Financial services and investments
Foreign and international corporations
Securities
Taxation of foreign income
U.S. and foreign investments

Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.