Global Intangible Low-Taxed Income Imposed by the Tax Cut and Jobs Act of 2017, code IRC 951A for Global Intangible Low-Taxed Income, GILTI, was introduced to assist in preventing tax evasion by controlled foreign corporations, CFCs, where a U.S. citizen is at least a 10% direct or indirect shareholder. GILTI is the income earned abroad… Read More

Figuring out which forms need to be filled out to report your foreign accounts and assets can be a daunting task. There are many rules and regulations that need to be taken into consideration to ensure that no penalties are accrued. Consulting with your accountant can guarantee that time isn’t wasted filing unnecessary forms or… Read More