Joint Resolution Introduced in U.S. Congress Disapproving Treasury Debt-Equity Regs
On 31 January 2017, a joint resolution (H.J.Res.54) was introduced in the U.S. House of Representatives which provides that the Congress disapproves the rules submitted by the Treasury and the IRS relating to documentation requirements for certain related-party interest in a corporation to be treated as indebtedness, and that such rule shall have no force or effect. The controversial debt-equit…
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