Title

Is FIRPTA (Partially) Obsolete?

Document Type

Article

Publication Date

5-11-1987

ISSN

1048-3306

Publisher

Tax Analysts

Language

en-US

Abstract

The Treasury's recent list of Subchapter C issues for study contained a long section on foreign matters. Although the section twice mentioned FIRPTA, it did not treat FIRPTA itself as a subject for reevaluation in the light of the 1986 Act. It should have. Repeal of the General Utilities principle rendered the corporate provisions of FIRPTA largely obsolete. The continuing effects of the FIRPTA rules should be considered against the background of the new corporate tax rules.

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