According to the course text, the United States has employed a worldwide system of taxation for the past 100 years. The Tax Cuts and Jobs Act (TCJA) upended this system. Imagine you are an international tax consultant advising a client on the impact of P.L. 115-97, the law known as the Tax Cuts and Jobs Act, on the taxation of a controlled foreign corporation (CFC). Analyze two changes to CFCs and advise your client on the actions necessary to reduce current and future tax liability as a result of these charg

According to the course text, the United States has employed a worldwide system of taxation for the past 100 years. The Tax Cuts and Jobs Act (TCJA) upended this system. Imagine you are an international tax consultant advising a client on the impact of P.L. 115-97, the law known as the Tax Cuts and Jobs Act, on the taxation of a controlled foreign corporation (CFC). Analyze two changes to CFCs and advise your client on the actions necessary to reduce current and future tax liability as a result of these charg

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter16: Multijurisdictional Taxation

Section: Chapter Questions

Problem 3RP

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Analyze two changes to CFCs and advise your client on the actions necessary to reduce current and future tax liability as a result of these charges.

Rules by which an authority (usually a government) imposes a financial obligation on individuals or organizations within its domain. Property or transactions can be taxed. While taxes are primarily intended to fund the operation of a government, many tax laws are created to encourage or discourage certain behaviors by citizens or companies.

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Step 1: Introduction to the Tax Cuts and Jobs Act and its Impact on Controlled Foreign Corporations (CFCs)

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Step 2: Changes to CFCs under the Tax Cuts and Jobs Act

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