S. 1673 · 115th Congress
Pay What You Owe Before You Go Act
- Stage
- In committee
- Sponsor
- Sherrod Brown
- Introduced
- 2017-07-31
- Latest action
- 2017-07-31 · Introduced in Senate
Summary
Pay What You Owe Before You Go Act
This bill 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) of 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.