The U.S. IRS has issued Revenue Procedure (Rev. Proc.) 2020-30, which provides guidance that certain temporary activities conducted by an individual in a foreign country will not give rise to a foreign branch separate unit for purposes of the dual consolidated loss rules or an obligation to file Form 8858 in light of COVID-19 travel disruptions.
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Purpose
As a result of travel restrictions and disruptions resulting from the global outbreak of the virus that causes COVID-19 (the "COVID-…