H.R. 5549 · 113th Congress

Pay What You Owe Before You Go Act

Stage
In committee
Introduced
2014-09-18
Latest action
2014-09-18 · Introduced in House

Summary

Pay What You Owe Before You Go Act - Amends the Internal Revenue Code to require the recapture in subpart F income (i.e., income of a controlled foreign corporation earned outside the United States which is not tax deferred) the accumulated deferred foreign income of such corporation (i.e., the undistributed earnings of the controlled foreign corporation over its undistributed U.S. earnings) for its last taxable year.