The U.S. IRS has announced the issuance of revenue procedures and proposed regulations that provide relief for U.S. persons who own stock in certain foreign corporations.
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WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2019-40 and proposed regulations that provides relief to certain U.S. persons that own stock in certain foreign corporations.
The Revenue Procedure limits the inquiries required by U.S. persons to determine wh…