To amend the Internal Revenue Code of 1986 to restore the limitation on downward attribution of stock ownership in applying the constructive ownership rules to controlled foreign corporations, and for other purposes.

Fact Sheet API

Bill Number

HR 2847

Introduced

Apr 26, 2021

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Financial services and investments Foreign and international corporations Securities Taxation Taxation of foreign income U.S. and foreign investments

Full Text

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Votes

Summary

This bill restores the limitation on downward attribution rules to 50% of stock ownership in applying constructive ownership rules to controlled foreign corporations.

Actions

Apr 26, 2021

Referred to the House Committee on Ways and Means.
Apr 26, 2021

Introduced in House

Amendments

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