IRS Floats Rules For Transition Tax On Foreign Earnings

By Alex Parker and Molly Moses (August 1, 2018, 11:57 AM EDT) -- The U.S. Department of Treasury dashed many corporate taxpayers' hopes on Wednesday, nixing suggested exceptions or potential areas for wiggle room in regulations to determine how to impose a one-time transition tax on the accumulated earnings of U.S. multinationals' foreign subsidiaries as part of 2017's federal tax overhaul....

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