118th Congress · HOUSE BILLBILL

H.R. 4357 — Permanent CFC Look-Through Act of 2023

“To amend the Internal Revenue Code of 1986 to make the look-through rule for related controlled foreign corporations permanent.”

Taxation

Introduced Jun 23, 2023

Last action Jun 23, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jun 23, 2023

Step 2

Referred

Jun 23, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This rule makes permanent the look-through rule for related controlled foreign corporations (CFCs). That rule provides that dividends, interest, rents and royalties one CFC receives from a related CFC are not treated as foreign personal holding company income (thus permitting the deferral of tax on such income).

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jun 23, 2023

Introduced in House

Jun 23, 2023

Referred to the House Committee on Ways and Means.