AICPA Submits Recommendations to IRS on Tax Reform Administrative Relief for Section 965 Elections and Transfer Agreements

The AICPA has submitted comments requesting relief with respect to late or incomplete elections under section 965(i) and late or incomplete transfer agreements under section 965(i)(2).

Business Owners, IRS News, Tax ReformThe Doty GroupOctober 4, 2019AICPA, Section 965, Transition Tax, Foreign EarningsComment

Preliminary Annual Report on U.S. Holdings of Foreign Securities

The survey measured the value of U.S. holdings of foreign securities at year-end 2018 at approximately $11.3 trillion.

IRS Provides Additional Details On Transition Tax On Untaxed Foreign Earnings

The IRS provided additional information to help taxpayers meet their filing and payment requirements for the Section 965 transition tax on untaxed foreign earnings.