Your Foreign Interests and the U.S. Tax Law

Posted on Fri, Dec 14, 2018 ©2021 Drucker & Scaccetti

PATRICK MCCORMICK - OFFICIAL - 2018-1By: Patrick McCormick, JD, LLM


Tax Warrior Patrick J. McCormick, JD, LLM, recently wrote an article for Tax Notes titled, "How is My Foreign Interest Classified for U.S. Tax Purposes." If you or a client have investments or other income-generating enterprises based outside the U.S., this piece will be of interest.  In the article, Patrick explores methods for determining how to
classify international holdings, options for altering the default classification of an
entity, the implications of various classification types, and things to consider when a choice of entity classification is possible.  You can read Patrick's article here.

Topics: Taxation, Foreign income, Tax Cuts and Jobs Act of 2017, Foreign partnerships, foreign subsidiaries, GILTI, Entity classifications, Foreign entities

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