The Supreme Court’s recent ruling on pass-through entities is a new wrinkle in
The IRS said in a July 5 brief that the Moore v. United States decision “confirms that Congress may attribute the income realized by a foreign controlled company to its U.S. owners,” which should strengthen its case in reallocating almost $23.7 million of 3M Co.'s royalty income from its Brazilian subsidiary to the US parent for tax purposes.
The Moore case, which involved the Mandatory Repatriation Tax, covered whether the IRS can tax the shareholders of ...
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