INTERNAL REVENUE SERVICE ISSUES PROPOSED RULE: PREVIOUSLY TAXED EARNINGS AND PROFITS AND RELATED BASIS ADJUSTMENTS; HEARING

WASHINGTON, Sept. 8 -- Internal Revenue Service has issued a proposed rule called: Previously Taxed Earnings and Profits and Related Basis Adjustments; Hearing.

The proposed rule was published in the Federal Register on Sept. 8 by Oluwafunmilayo A. Taylor, Section Chief, Publications and Regulations Section, Associate Chief Counsel, (Procedure and Administration).

Summary: This document provides a notice of public hearing on proposed rules regarding previously taxed earnings and profits of foreign corporations and related basis adjustments.

For more information, contact Concerning the proposed rules, Daren Gottlieb at (202) 317- 4943, (not a toll-free number); concerning submissions of requests to testify, the hearing and/or to be placed...