IRS Internal Revenue Bulletin: I.R.B. 2025-22 Released

The IRS has published its Internal Revenue Bulletin. The bulletin includes: 1) Rev. Proc. 2025-21, regarding clarification of §12.02 of Rev. Proc. 2024-32; and 2) Rev. Proc. 2025-20, regarding revenue domestic asset and liability percentages, and domestic investment yields, used for computing minimum effectively connected net investment income for foreign insurance companies, under I.R.C. §842(b), applicable to taxable years beginning after Dec. 31, 2023. [Internal Revenue Bulletin 2025-22 (May 27, 2025)]

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