TAX TREATMENT OF FOREIGN EXCHANGE GAINS AND LOSSES AND THE TAX REFORM ACT OF 1986

This paper documents the changes in the taxation of foreign exchange gains and losses brought about by the Tax Reform Act of 1986. The timing of recognition of foreign exchange gains and losses is important in determining the effective tax rate on foreign-currency-denominated assets. If such gains a... Ausführliche Beschreibung

1. Person: WAHL, JENNY BOURNE
Quelle: in National tax journal Vol. 42, No. 1 (1989), p. 59-68
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Format: Online-Artikel
Sprache: English
Veröffentlicht: 1989
Beschreibung: Online-Ressource
Schlagworte: research-article
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Anmerkung: Copyright: Copyright 1989 National Tax Association—Tax Institute of America
Zusammenfassung: This paper documents the changes in the taxation of foreign exchange gains and losses brought about by the Tax Reform Act of 1986. The timing of recognition of foreign exchange gains and losses is important in determining the effective tax rate on foreign-currency-denominated assets. If such gains and losses are anticipated and are taxed on realization rather than accrued, U. S. taxpayers have an incentive to invest in strong currencies and borrow in weak ones. Although the Act eliminates some asymmetries and clarifies the law, it does not accrue all anticipated gains and losses and therefore may affect international financial decisions.
ISSN: 1944-7477

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