Taxand USA hosts 'Time is Ticking - how to comply with Section 385'
Are you responsible for tax returns and tax provisions? Then you likely know that the intercompany loan documentation rules associated with Section 385 will complicate your role, perhaps in a few months, assuming the regulations become final by the autumn.
The proposed documentation regulations will:
- Require compliance within 30 days
- Intensify attest firm examinations (more rules to apply and documents to review); and
- Increase IRS scrutiny upon audit
Many joined Taxand USA as they discussed a practical approach for in-house tax departments tasked with preparing for and complying with burdensome documentation rules associated with Section 385.