<p>IRS Issues Practice Unit on Transition Tax</p>

IRS Issues Practice Unit on Transition Tax

Internal Revenue Service

The IRS has released a practice unit that provides an overview of section 965, which generally requires U.S. shareholders to pay a transition tax on the untaxed foreign earnings of some specified foreign corporations as if those earnings had been repatriated to the United States.

<p>The IRS has released a practice unit that provides an overview of section 965, which generally requires U.S. shareholders to pay a transition tax on the untaxed foreign earnings of some specified foreign corporations as if those earnings had been repatriated to the United States.</p>