The Internal Revenue Service issued final guidance Jan. 15 about how corporations can pay their repatriation taxes on their offshore profits, despite a shutdown that has shuttered most activity at the agency.

  • The rules largely adopt a proposal the agency released last August instructing companies on how to pay the levy on stockpiled foreign profits included in the 2017 tax overhaul
  • The IRS, which is one of the agencies affected by the shutdown, has a separate budget to work on tax overhaul regulations during the funding lapse
  • The tax law sets a levy of 15.5 percent on cash and 8...