Under the check the box rules, entities owned by one person can often be disregarded for federal tax purposes. Such entities are referred to as "disregarded entities." As time has progressed since the passage of the check the box rules, the IRS has created more and more exceptions to the disregarded treatment. The following is…
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The Estate Tax Challenge
We previously posted on November 14, 2016 Trump Presidency Could Be Death Knell For Estate Taxes! where we discussed President-Elect Trump's tax plans, which includes the repeal of the US Estate & Gift taxes. This may be a realistic possibility considering that this is in line with some of the proposals in the Republican House Ways &…
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Going To Europe This Summer? You Need To Get a Visa!
The European Parliament voted, on 2 March 2017, to suspend the EU's visa waiver program with the US for one year, following the US administration's failure to lift visa restrictions on Bulgaria, Croatia, Cyprus, Poland, and Romania. The European Commission now has two months to reintroduce visas for Americans wishing to travel to Europe. Citizenship…
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IRS Investigators Raid Caterpillar Over Swiss Profits
We originally posted on March 31, 2014 Caterpillar Saved Billions in US Tax By Shifting Profits to a Swiss Subsidiary where we discussed that Caterpillar Inc., an American manufacturing icon, used a wholly owned Swiss affiliate to shift $8 billion in profits from the United States to Switzerland to take advantage of a special 4…
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