The U.S. Congress has enacted the One Big Beautiful Bill Act (OBBB), formally renamed "An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14." President Donald Trump signed the legislation into law on...more
7/21/2025
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
Controlled Foreign Corporations ,
Excise Tax ,
Foreign Derived Intangible Income (FDII) ,
Foreign Tax Credits ,
G7 ,
GILTI tax ,
International Remittance Transfers ,
International Tax Issues ,
Multinationals ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Incentives ,
Tax Legislation ,
Tax Reform
The U.S. Supreme Court on June 20, 2024, ruled 7-2 that Section 965 of the Internal Revenue Code, as revised by the law known as the Tax Cuts and Jobs Act, is constitutional. The issue presented to the Court in Moore v....more
6/27/2024
/ 16th Amendment ,
Constitutional Challenges ,
Controlled Foreign Corporations ,
GILTI tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Moore v US ,
Repatriation ,
SCOTUS ,
Shareholders ,
Tax Cuts and Jobs Act ,
Tax Liability ,
Tax Revenues
The close of 2022 means family gatherings, holiday fun and one step closer to the end of research and development (R&D) expense current deductibility. Prior to the Tax Cuts and Jobs Act (TCJA), Internal Revenue Code Section...more