IRS Mulls New Rule Project on Transfer of Intangible Property

The IRS is considering a general guidance project on the treatment of intangible property under a section of the US tax code that deals with the transfer of property outside the US, an official for the agency said Wednesday.

There’s uncertainty when trying to determine the basis—or cost—for intangible property that’s transferred outside the US under Sec. 367 (d), said Layla Asali, tax chair at Miller & Chevalier. Asali was speaking during a panel at the 2024 D.C. Bar Tax Conference.

Teisha Ruggiero, branch chief at the IRS’s Office of Chief Counsel, said the issue ...