WASHINGTON (CN) - To keep corporations prone to creative accounting from moving the value of an asset used by one subsidiary to another subsidiary where there are lower tax rates, each corporate subsidiary now must "buy in" to a corporate asset in the same proportion that it expects to benefit from the asset, according to IRS guidance.
Click the document icon on the front page for details and links to the regulations. The document icon under the "Midair Stalls, Rail & More" heading leads to other new regulations.
Read the Top 8
Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.