Section 385 debt-equity regulations
Section 385 debt-equity regulations
Final and temporary regulations under section 385, released in October 2016, address the treatment of related-party debt for U.S. tax purposes. The regulations afford significant relief for U.S. multinational groups, and offer some, but less significant, relief for foreign multinational groups. KPMG reports and analyses about the section 385 regulations are collected below.
Section 385 updates
Oct 4 - Final report: Treasury regulations, responding to executive order to reduce tax burden
Jul 28 - Notice 2017-36: “Documentation regulations” under Reg. section 1.385-2 delayed by one year
Jul 7 - Notice 2017-38: Interim list of Treasury regulations, responding to executive order to reduce tax burden
Apr 21 - President directs Treasury to begin tax simplification process
Oct 14 - Section 385 final regulations: Initial reactions
Oct 14 - Section 385 final regulations: Initial reaction to insurance-specific provisions
Oct 11 - Section 385 update: Hatch letter to Treasury regarding regulatory process
Oct 6 - Section 385 update: Treasury’s regulatory guidance process
Oct 5 - Section 385 update: Ways and Means Republicans’ letter to administration
Sep 30 - Section 385 update: Debt-equity regulations advance towards finalization
Sep 14 - Section 385 update: Brady asks Treasury to slow down section 385 regulations
Aug 22 - Tax committee chairmen write Treasury, seeking changes to section 385 proposed regulations
Jul 8 - Comments on proposed regulations under section 385
Jul 5 - Tax-writing committees to question Treasury officials, section 385 proposed regulations
Jul 5 - KPMG report: State, local tax implications of proposed regulations under section 385
Jun 28 - Ways and Means leadership, members express concerns about section 385 proposed regulations
Apr 6 - KPMG reports: Initial analyses of regulations on inversions and on debt-equity
Apr 4 - Regulations: “Inversions” and earnings stripping; new business tax reform framework
Read more about the final regulations under section 385 on KPMG's Institutes website.
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