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March 8, 2016

On September 14, 2015, Treasury and the IRS released proposed regulations under section 367 that would dramatically change the treatment of goodwill and going concern value transferred by a U.S. person to a foreign corporation in what, in a purely domestic context, would otherwise be a tax-free transaction.

If finalized as proposed, the regulations would be effective retroactively for transfers occurring on or after September 14, 2015. Several commentators, including two of the Big Four public accounting firms, submitted comments before the December 15, 2015, deadline.

Tax Notes: Valuation Implications of Proposed Goodwill Regulations