API Testimony for IRS Hearing On Section 965 Implementation

Stephen Comstock, Director of Tax and Accounting Policy at the American Petroleum Institute addressed the inclusion of section 965 in the recent tax reform legislation that was meant to help address the foreign earnings “lockout” problem and transition the United States toward a modern international taxation system. As a transition provision, rules around section 965 could be approached as stand-alone guidance but API and its members believe that they should still be developed to maintain coherent tax policy and treat similarly situated taxpayers in a consistent manner.

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API Testimony for IRS Hearing On Section 965 Implementation

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