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The Global Intangible Low Taxed Income (GILTI) tax regime was first introduced under the 2017 Tax Cuts and Jobs Act.…

Robert EwanisAugust 20, 2020

On July 23, 2020, the Department of the Treasury and the Internal Revenue Service (collectively, Treasury) published in the Federal…

The IRS recently announced a new area of focus under its issue-based audit strategy program focusing on Internal Revenue Code…

The Internal Revenue Service (IRS) is continuing to increase its focus on cross border transactions and their reporting requirements. While…

The U.S. Small Business Administration (SBA) issued additional guidance on May 18, 2020, clarifying how employees of foreign affiliates are…

Just as US corporations must file a US corporate tax return, so must a foreign corporation file a US corporate…

April PengFebruary 26, 2020

Earlier this month, the Finance Minister of India proposed the 2020 budget to be effective from April 1, 2020. One…

Vinay NavaniFebruary 24, 2020

On November 4, 2019, the IRS Large Business and International (LB&I) Division announced its recent campaign regarding promoting the IRC…

April PengNovember 11, 2019

Over 2 million Individual Identification Numbers (ITINs) will expire at the end of this year. The Internal Revenue Service issued…

Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. trade or…