IRS eyes companies with "stateless income"

07/25/2013 | Reuters

The Internal Revenue Service is examining companies that realize corporate profits that are not associated with any particular country. This usually occurs after a complex corporate restructuring to create "stateless income" or to develop an efficient tax repatriation. Erik Corwin, an IRS deputy chief counsel, told an audience of tax lawyers recently that a family of such cases was in the pipeline and being examined by the agency.

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