tag:blogger.com,1999:blog-6398232680738279469.post1684714758929588029..comments2024-03-12T07:30:17.846-07:00Comments on The Tax Times: White House Tax Plan Designed to Keep Companies in U.S.Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6398232680738279469.post-24226968155426050792012-02-02T12:10:59.318-08:002012-02-02T12:10:59.318-08:00Ways and Means Still Considering Subpart F Excepti...Ways and Means Still Considering Subpart F Exceptions Under Territorial System, Aide Says <br /><br />Posted February 2, 2012, 2:51 P.M. ET <br /><br />Two Subpart F exceptions remain under consideration as the House Ways and Means Committee reviews a discussion draft that proposes a territorial tax system, a senior committee aide said Feb. 2. <br /><br />Ray Beeman, Ways and Means tax counsel and special adviser for tax reform, said the committee is still looking at both the active financing exception and a lookthrough provision for controlled foreign corporations. <br />Speaking at a conference sponsored by the Practising Law Institute, Beeman said the exceptions are still being considered, but “we're holding off on what we might do there until we know where we're headed on base erosion.” <br /><br />Under one of three options to limit revenue losses under the plan, low-taxed cross-border foreign income would be treated as Subpart F income. The committee is likely to take a more comprehensive look at Subpart F in general once it works out questions on the base erosion provisions, Beeman said.Ronald A. Marini, Esq.https://www.blogger.com/profile/14304486100168506240noreply@blogger.com