All tagged Tax

The 2017 Tax Cut and Jobs Act (TCJA) had many provisions, which we will be discussing over the next few months, and they include good, bad, and ugly. Some are two-faced, with aspects that at first seem bad but may actually turn out to be a blessing depending on your situation. One such provision is the GILTI regime, a new category of “Subpart F” income intended to prevent inappropriate deferral of foreign source income by U.S. taxpayers.

Until September of 2014 only companies that were contacted by the U.S. Department of Commerce were required to file information regarding foreign direct investment (FDI) on the Form BE-13. Effective September 15, 2014 this form is required when the FDI falls under one of five different categories, with an exception for anyone that doesn't fit into one these five.