📝IRS Notice on Interest Rates and Foreign Loss Payment Patterns
Agency Collection Activities; Requesting Comments on Burden Related to Interest Rates and Appropriate Foreign Loss Payment Patterns of Certain Controlled Corporations
Summary
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning the burden related to the interest rates and appropriate foreign loss payment patterns for determining the qualified insurance income of certain controlled corporations under section 954(i).
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$ - Low
The text primarily serves as a notice for information collection without substantial business impact. While it invites comments from relevant stakeholders, it does not establish new compliance requirements or financial implications for businesses.