S 2662
114th Congress
Senate
Taxation
Corporate finance and management
Foreign and international corporations
Taxation of foreign income
Pay What You Owe Before You Go Act
Introduced: March 10, 2016
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 10, 2016
Read twice and referred to the Committee on Finance.
Mar 10, 2016
Introduced in Senate
Plain-English summary
Pay What You Owe Before You Go Act
This bill amends the Internal Revenue Code to require the recapture in subpart F income (i.e., income of a controlled foreign corporation earned outside the United States which is not tax deferred) of the accumulated deferred foreign income of such corporation (i.e., the undistributed earnings of the controlled foreign corporation over its undistributed U.S. earnings) for its last taxable year.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1