IRS Allows Sec. 1298(f) Filing Exemption for Certain Holders of Marked-to-Market PFIC Stock

The IRS announced that it will amend the Sec. 1298(f) regulations to create an exception from its filing requirements for U.S. persons holding passive foreign investment company (PFIC) stock that is marked to market under Sec. 475 or another Code section other than Sec. 1296.

Source: http://feedproxy.google.com/~r/AICPA_TaxAdvisor/~3/qkWnmk1R8AQ/Tax_Clinic_06.aspx

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