Overview
Bloomberg BNA quoted Steptoe partner Mark Silverman in an article titled “Domestic Deals Ensnared in Push to Stop Inversion Benefits.” The article, published May 3, discusses new IRS rules that intend to prevent multinationals from shifting income out of the country.
Mr. Silverman says a lot of people did not initially think the rules would have a big impact on domestic-only companies because they carve out consolidated groups – structures common in the US. Mr. Silverman also says, “This is going to be a real burden on a lot of people, and there are a fair number of situations where the regulations do apply.”
The full article can be read at Bloomberg BNA (subscription required).