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Final Regs Reverse Proposed Mutual Fund Income Funds, Tax Notes

March 25, 2019

Tax Notes detailed new regulated investment company (RIC) regulations that reverse the IRS’s 2016 proposed rules. Morgan Lewis partner Rich LaFalce says in the article that dividends and interests generated by a passive foreign investment company (PFIC) previously would be good income if they were received directly by a RIC. However, under the proposed rules, the PFIC might have to take different steps if it has a qualified electing fund.

Read the full Tax Notes article.