Date: 2023-11-14
Links to Federal Register: HTML, PDF
Document Number: 2023-24649, RIN: 1545-BO07
Action: Notice of proposed rulemaking and partial withdrawal of notice of proposed rulemaking.
Abstract: This document contains proposed regulations relating to the determination of taxable income or loss and foreign currency gain or loss with respect to a qualified business unit. These proposed regulations include an election to treat all items of a qualified business unit as marked items (subject to a loss suspension rule), an election to recognize all foreign currency gain or loss with respect to a qualified business unit on an annual basis, and a new transition rule.
| Notable phrases | Frequency |
|---|---|
| 987 (gain|loss|gain or loss) | 992 |
| section 987 qbu | 811 |
| unrecognized section 987 (gain|loss|gain or loss) | 265 |
| termination | 202 |
| books and records | 153 |
| translated | 132 |
| assets and liabilities | 124 |
| current rate election | 123 |
| spot rate | 118 |
| annual recognition election | 110 |
| 987 aggregate partnership | 106 |
| balance sheet | 99 |
| the transition date | 95 |
| pretransition (gain|loss|gain or loss) | 86 |
| deferred section 987 (gain|loss|gain or loss) | 85 |
| yearly average exchange rate | 71 |
| owner functional currency net value | 61 |
| eligible pretransition method | 54 |
| original deferral qbu | 49 |
| trade or business | 44 |
| consolidated group | 43 |
| accumulated unrecognized section 987 (gain|loss|gain or loss) | 42 |
| qualified business unit | 35 |
| ofcnv | 35 |
| controlled foreign corporation | 33 |
| tentative tested income | 31 |
| section 987 electing group | 23 |
| fresh start transition | 18 |
| Reg. Cites | Frequency |
|---|---|
| 1.987-5 | 47 |
| 1.987-12 | 43 |
| 1.987-10 | 32 |
| 1.987-1 | 25 |
| 1.987-4(d) | 24 |
| 1.987-13 | 22 |
| 1.987-11(e) | 20 |
| 1.987-11 | 17 |
| 1.987-14 | 17 |
| 1.987-6 | 16 |
| 1.987-4 | 15 |
| 1.987-2(b) | 12 |
| 1.987-5(a) | 12 |
| 1.987-8 | 12 |
| 1.987-11(c) | 12 |
| 1.987-3 | 12 |
| 1.951a-2(c)(7) | 11 |
| 1.988-1(a)(10) | 10 |
| 1.987-4(d)(10) | 10 |
| 1.987-10(k) | 10 |
| Sec. Cites | Frequency |
|---|---|
| 987 | 2235 |
| 988 | 66 |
| 381(a) | 14 |
| 267(b) | 12 |
| 904 | 11 |
| 954(c)(1)(d) | 10 |
| 987(3) | 9 |
| 351 | 7 |
| 705 | 5 |
| 331 | 4 |
| 743(b) | 3 |
| 958(a) | 3 |
| 952(b) | 2 |
| 985(b) | 2 |
| 951(b) | 2 |
| 351) | 2 |
| 752 | 2 |
| 957 | 2 |
| 7520 | 2 |
Statistics
Number of pages: 77, words: 88,495, sentences: 3,251
Average words per sentence: 27