IRS Updates Guidance Related to Foreign Gains and Losses Under Section 987 by Jairan Shirazi
Posted on August 07, 2024 by Jairan Shirazi
One of the more challenging tax reporting requirements for multinational businesses is the translation of gains and losses of their foreign branch offices and qualified business units (QBUs) into their home country’s functional currency. This process is often complicated by exchange rate fluctuations, including currency devaluations, that can have a material impact on the principal […]
