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U.S. Transition Tax – Update Number Five

As they did before the April 15th tax filing deadline, the IRS once again issued guidance on the U.S. transition tax right before a tax filing deadline. This time, the filing deadline is June 15, the extended filing deadline for U.S. taxpayers abroad, the very group U.S. transition tax impacts. Guidance published on Monday, June […]

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U.S. Transition Tax – A Fourth Update

April 14, 2018

In mid-April, there is usually a race against time by taxpayers and accountants to meet U.S. tax filing deadlines. The normal U.S. tax filing deadline for the 2017 year for individuals and certain U.S. entities is Tuesday, April 17th (a few days later than the usual April 15th due to weekends and a U.S. holiday […]

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U.S. Transition Tax – Next Update

April 3, 2018

On April 2nd, the IRS and U.S. Treasury issued more guidance on the U.S. Transition Tax enacted by the Tax Cuts and Jobs Act (“TCJA”) in December 2017. As the U.S. moves to a territorial tax system for profits earned outside the U.S., this provision assesses a tax rate on accumulated earnings and profits in […]

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U.S. Transition Tax – Update

March 14, 2018

On March 13th, the Internal Revenue Service provided further guidance on how U.S. taxpayers should report activity subject to the U.S. Transition Tax on their 2017 US income tax returns. Our previous blog describing the tax and its impact to U.S. taxpayers can be found HERE. This IRS guidance references earlier IRS updates and provides […]

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