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Congress Considers Repeat of Tax Repatriation Holiday

Congress is looking at a House bill that would revive the dividends received deduction of IRC Section 965 and provide U.S. corporations with operations abroad a tax break on repatriated profits for 2011 or 2012. (See Lexis Tax Advisor -- Federal Code § 965(a) ). The bill was introduced by Representative...

Repatriation Tax Holidays and IRC Section 965

By Mary Riley * The debate over corporate tax reform has largely centered on lowering the corporate tax rate and, more radically, transitioning from a worldwide to a territorial system of international taxation. [Donald J. Marples and Jane G. Gravelle, CONG. RESEARCH SERVE, R40178, TAX CUTS ON REPATRIATION...