To alleviate the cash needs of regulated investment companies (RICs) and real estate investment trusts (REITs) in the face of the economic effects of COVID-19, on May 4, 2020, the Internal Revenue Service (IRS) released an...more
When a corporation wants to be treated as a regulated investment company (RIC) under the Internal Revenue Code for federal income tax purposes, it must meet certain requirements, including an asset diversification test...more
After an initial period of almost 30 years without significant regulatory guidance addressing the statutory exception for foreign insurance companies under the passive foreign investment company (PFIC) regime, the U.S....more