Treasury Issues: Temporary Regulations Regarding the Allocation of Partnership Foreign Tax Expenditures - February 09, 2016

Gibson, Dunn & Crutcher

Description

[1] Unless indicated otherwise, all "section" references are to the Code, and all "Treas. Reg. §" references are to the Treasury regulations promulgated under the Code. The following Gibson Dunn lawyers assisted in preparing this client alert: Eric Sloan, Hatef Behnia, Paul Issler, Brian Kniesly, Art Pasternak, Jeff Trinklein, Romina Weiss, Nina Xue, and James Jennings. Gibson, Dunn & Crutcher's lawyers are available to assist with any questions you may have regarding these developments. For further information, please contact the Gibson Dunn lawyer with whom you usually work or any of the following members of the Tax Practice Group: Art Pasternak - Co-Chair, Washington, D.C.

(+1 202-955-8582, apasternak@gibsondunn.com) Jeffrey M. Trinklein - Co-Chair, London/New York (+44 (0)20 7071 4224 / +1 212-351-2344), jtrinklein@gibsondunn.com) Brian W. Kniesly - New York (+1 212-351-2379, bkniesly@gibsondunn.com) David B.

Rosenauer - New York (+1 212-351-3853, drosenauer@gibsondunn.com) Eric B. Sloan - New York (+1 212-351-2340, esloan@gibsondunn.com) Romina Weiss - New York (+1 212-351-3929, rweiss@gibsondunn.com) Benjamin Rippeon - Washington, D.C. (+1 202-955-8265, brippeon@gibsondunn.com) Hatef Behnia - Los Angeles (+1 213-229-7534, hbehnia@gibsondunn.com) Paul S.

Issler - Los Angeles (+1 213-229-7763, pissler@gibsondunn.com) Dora Arash - Los Angeles (+1 213-229-7134, darash@gibsondunn.com) Scott Knutson - Orange County (+1 949-451-3961, sknutson@gibsondunn.com) David Sinak - Dallas (+1 214-698-3107, dsinak@gibsondunn.com) © 2016 Gibson, Dunn & Crutcher LLP Attorney Advertising: The enclosed materials have been prepared for general informational purposes only and are not intended as legal advice. 6 .