CARES Act: Required Minimum Distributions Suspended
Stay informed on the latest tax and employment legislation updates during the Coronavirus outbreak.
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Does the SECURE Act impact you?
Congress recently passed—and the President signed into law—the SECURE Act. Here is a look at some of the more important elements of the SECURE Act that have an impact on individuals.
Tax Cuts and Jobs Act (TCJA) & U.S. Taxation of Foreign Business Income
As a part of the Tax Cuts and Jobs Act (TCJA), there are tax provisions that will affect U.S. shareholders of controlled foreign corporations (CFCs) for tax years beginning after December 31, 2017. The IRS recently issued guidance on these changes.
U.S. Taxation of Foreign Business Income
The TCJA shifts the U.S. corporate taxation of foreign earnings to a “quasi-territorial” system, which, for corporate shareholders of a foreign corporation, may result in no U.S. tax with respect to income of a CFC. However, ownership of a foreign corporation by a U.S. shareholder that is not a C corporation may produce less favorable […]
