N-2017-68: Treatment Under Section 956(c) of Certain Receivables Following Hurricane Irma or Hurricane Maria

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October 27, 2017

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Issue Number: N-2017-68

Inside This Issue

Notice 2017-68 announces that obligations of a United States person received in exchange for certain property that was located in an area designated by FEMA as subject to damage from Hurricane Irma or Hurricane Irma will be considered to qualify for the exception from United States property in section 956(c)(2)(C) and Treas. Reg. §1.956-2(b)(1)(v) if repaid by March 31, 2018.

Notice 2017-68 will be in IRB 2017-46, dated November 13, 2017.

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