Summary: S.1673 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for S.1673. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (07/31/2017)

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.