Weil Tax BLOG - Feed https://tax.weil.com/contributor/marvin-zanders/ Views and developments from the Tax Department at Weil Fri, 29 May 2026 16:24:17 +0000 hourly 1 Notice 2024-16: Guidance Allowing for Basis Adjustments to CFC Stock Transferred in Inbound Nonrecognition Transactions https://tax.weil.com/features/notice-2024-16-guidance-allowing-for-basis-adjustments-to-cfc-stock-transferred-in-inbound-nonrecognition-transactions/ Thu, 04 Jan 2024 15:56:19 +0000 Devon Bodoh Alfonso Dulcey Theo Agbi Marvin Zanders https://tax.weil.com/?p=2093 Introduction On December 28, 2023, the Internal Revenue Service (“IRS”) released Notice 2024-16 (the “Notice”) announcing the intent of the Treasury Department (“Treasury”) and the IRS to issue proposed regulations addressing basis consequences under Section 961(c)1 relating to certain inbound liquidations and asset reorganizations (collectively “Inbound Non-recognition Transactions”) whereby a U.S. corporation (the “Domestic Acquiring

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