Tax Law Could Keep IP From Leaving, Treasury Official Says

Law360, Houston (February 22, 2018, 9:51 PM EST) -- An international provision in the new tax law might not result in U.S. companies bringing intellectual property back home, but the measure could keep them from moving more assets outside of American borders, a U.S. Treasury official said Thursday at a conference in Houston.

Brian Jenn, deputy international tax counsel at Treasury, responded to tax practitioners who said a provision in the Tax Cuts and Jobs Act, P.L.115-97, won’t actually have its intended effect of encouraging companies to repatriate their offshore IP. The practitioners who raised the issue were among Jenn's fellow panel members at the conference, which was hosted by...

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