S. 2589 — A bill 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.

Summary

This bill amends the Internal Revenue Code to limit the scope of downward attribution rules to 50% of stock ownership in applying constructive ownership rules to controlled foreign corporations.

Full Text

Related Legislation

S. 3548CARES Act
2020-06-03Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-604.
Related
H.R. 4509To 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.
2019-09-26Referred to the House Committee on Ways and Means.
Related

Legislative Actions

2019-09-26
Introduced in Senate
2019-09-26
Read twice and referred to the Committee on Finance.

A bill 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.

Sponsors

Subjects

Summary

Full Text

Related Legislation

Legislative Actions

Ask about this bill