Bloomberg Tax & Accounting has made available Corporate Inversions, a new Tax Management Portfolio. The publication was authored by John L. Harrington of Dentons USA.

 The Portfolio describes the federal income tax consequences that occur when a U.S. corporation or U.S. partnership converts into, merges with or becomes the subsidiary of a foreign corporation through an exchange of stock.

It focuses on an aspect of the Internal Revenue Code that was added by Congress as part of the American Jobs Creation Act of 2004, which imposes negative tax consequences on an inverted company, by reducing, or in some cases, eliminating the tax benefits derived from a corporate inversion.

Guidance helps companies determine whether they meet the three requirements to be subject to the negative tax consequences of an inverted corporation.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Last modified on Wednesday, 25 March 2020
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