International Tax Post-TCJA: What You Need to Know About New Guidance
Since President Trump signed the US Tax Cuts and Jobs Act (TCJA) into law on December 22, 2017, clients and tax practitioners have been focusing heavily on two significant provisions of the TCJA:
- Transition tax under Section 965
- Global intangible low-taxed income (GILTI) under Section 951A
The IRS and Treasury have supplied recent guidance on these topics, providing much needed clarity for taxpayer and practitioners. This special report explores these recent updates and additional lingering questions.