A key question that should at the very least be considered by companies who transferred intellectual property ("IP") out of the U.S. prior to the Tax Cuts and Jobs Act ("TCJA") should be: Can the IRS use the TCJA to actually support its position of valuing IP on an aggregate basis for transfers that occurred prior to the TCJA?

While there is clarity on the required valuation approach for transfers that commenced subsequent to the TCJA, what if - based on the language of the TCJA - the IRS could favorably argue that pre-TCJA transfers must also be valued using an aggregate approach?

Our article addresses this issue and raises the possibility of the need to potentially revisit the valuation of pre-TCJA transfers.