Undaunted by its recent drubbing (15 to 0) in Altera for adopting a rule under section 482 thatignored important facts, the IRS on September 14 boldly released a proposed new rule under section 367 that openly defies congressional intent and arguably contradicts statutory language.

In keeping with that spirit, the proposed new rule also includes an effective date that would apply retroactively (to September 14, 2015) once the regulations are finalized (presumably sometime after 2015, if at all).

In this report, Brewer questions the validity of proposed regulations that would eliminate the favorable tax treatment for goodwill and going concern value in outbound transfers.

READ MORE:
Tax Notes: Goodwill Hunting... Without a License: The IRS Takes Action