GILTI Tax and Controlled Foreign Corporations
GILTI tax was enacted under the TCJA (new IRC 951A). IWTA Founder Jack Brister explains…
The Four Questions Q3: Why does the U.S. employ a “substance over form” tax system?
The overarching concept of the U.S. tax system is to tax the economic substance of a transaction or series of transactions.
The Four Questions: Q2: Why does the U.S. employ a system of worldwide taxation?
The defense of citizenship-based taxation and taxation of worldwide income rests on the belief that U.S. citizenship confers benefits independently of where a citizen resides.
The Four Questions Q1: What causes Americans to never give up even when the market crashes?
Americans have been risk takers for as long as the U.S. has existed, and that mindset continues today.
A Group You Should Hope to Never Meet: The J5
Did you know that a new group of international tax compliance superheroes, the Joint Chiefs of Global Tax Enforcement, was formed in 2018?
2019, Cryptocurrency, Finance
IRS Turns Eye Toward Cryptocurrency Taxpayers
As the use of cryptocurrency becomes increasingly common, regulation is quickly catching up –and that includes the IRS.