The U.S. IRS has recently released three international practice units, including:
- U.S. Real Property Holding Corporations - USRPHC Status, which demonstrates how to determine when a corporation is a U.S. real property holding corporation (USRPHC) with respect to the taxation of gains on the sale of a U.S. real property interest (USRPI);
- Overview of Entity Classification Regulations (a/k/a Check-the-Box), which discusses the default classification of an entity if no election is made, the el…