The change applies to foreign firm tax years beginning after November 30, 2025
To provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70352, Sec. 70352.
Written by .
The change applies to foreign firm tax years beginning after November 30, 2025
The document says “shall apply”Who acts: Secretary of the TreasuryHow: statuteSec. 70352 in the PDF
What the document says
“The amendments made by this section shall apply to taxable years of specified foreign corporations beginning after November 30, 2025.”
The section applies its amendments to taxable years of specified foreign corporations beginning after November 30, 2025.
What the document actually says
“The amendments made by this section shall apply to taxable years of specified foreign corporations beginning after November 30, 2025.”
That sentence, in plain words
The changes start with tax years that begin after November 30, 2025. That covers named foreign firms.
What this is about
Earlier tax years are not touched. The old rules still hold for them. The date is fixed in the law.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Provide for reconciliation pursuant to title II of H. Con. Res. 14, Public Law 119-21, sec. 70352, 139 Stat. 208 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm
This page
“The change applies to foreign firm tax years beginning after November 30, 2025,” Provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70352, Sec. 70352. Read the Mandate, https://readthemandate.org/pl-119-21/proposal/sec70352-effective-date/ (retrieved October 10, 2026).
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