HR 5240
116th Congress
House
Taxation
Foreign and international corporations
Income tax deferral
Taxation of foreign income
U.S. and foreign investments
To amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign corporations permanent.
Introduced: November 21, 2019
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 21, 2019
Referred to the House Committee on Ways and Means.
Nov 21, 2019
Introduced in House
Plain-English summary
This bill amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1