IRS Issues PLR Granting Foreign Entity Extension to File Disregarded Entity Election

The IRS issued a private letter ruling on I.R.C. §7701 and Treas. Reg. §301.9100 granting a foreign entity a 120-day extension to file Form 8832 for classification as a disregarded entity effective on its formation date. [PLR 202611005]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.