- Tax Court Reverses Course After `BMC Software¿ Win in Fifth Circuit: Rev. Proc. 99-32 Accounts Receivable Do Not Constitute Related-Party Indebtedness for Purposes of §965
- April 11, 2017 | Authors: Krystal S. McKay; Mary E. Monahan; Daniel R.B. Nicholas
- Law Firm: Eversheds Sutherland (US) LLP - Washington Office
Bloomberg BNA - Tax Management International Journal
Full article (subscription required)
In their article for Bloomberg BNA, Eversheds Sutherland (US) attorneys Mary Monahan, Daniel Nicholas and Krystal McKay analyze the United States Tax Court’s opinion in Analog Devices, Inc. v. Commissioner, which ruled that taxpayer’s accounts receivable established between itself and its controlled foreign corporation pursuant to Rev. Proc. 99-32 did not constitute related-party for purposes of the one-time dividends received deduction (DRD) under §965(b)(3), and allowed the taxpayer the full amount of the DRD claimed.