IRS Wants to Help Companies Bring Intangible Assets Back to U.S.

Dec. 19, 2019, 9:35 PM

The IRS wants to know how it can help companies that are looking to unwind pre-tax law transactions to bring intangible property back to the U.S., according to a top agency official.

There may be ways for the agency to provide targeted guidance through the process of issuing private letter rulings to facilitate those efforts, IRS Chief Counsel Michael Desmond said Dec. 19. He spoke at an annual conference sponsored by George Washington Law School, the IRS, and Treasury Department in Washington.

“You’re bringing property back to the United States, intangible property, that’s something that we want to encourage,” ...

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