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TREAS/IRS RIN: 1545-AY54 Publication ID: Fall 2022 
Title: Exclusion From Gross Income of Previously Taxed Earnings and Profits, and Adjustments to Basis of Stock in Controlled Foreign Corporations and of Other Property 

The regulations will address exclusions from income of previously taxed earnings and profits under section 959, accounting for previously taxed earnings and profits, and basis adjustments under section 961 related to previously taxed earnings and profits. The regulations will generally include the rules described in Notice 2019-01.

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1   
Legal Authority: 26 U.S.C. 959    26 U.S.C. 7805   
Legal Deadline:  None
Action Date FR Cite
NPRM  08/29/2006  71 FR 51155   
NPRM Comment Period End  11/27/2006    
Second NPRM  04/00/2023 
Additional Information: REG-121509-00 Drafting attorney: Joshua P. Roffenbender (202) 317-6934 Reviewing attorney: Melinda E. Harvey (202) 317-6934 Treasury attorney: Brenda Zent (202) 622-6894 CC:INTL
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Joshua P. Roffenbender
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW, Room 4706,
Washington, DC 20224
Phone:202 317-6934
Fax:855 584-5146