Explore recent news and coverage regarding PFICs. Browse through a list of articles about U.S. taxpayers and their foreign investments on Tax Notes!
A like-kind exchange doesn't eliminate taxes; it just pushes them into the future. Say you paid $20,000 for a piece of business or investment real estate and sold it for $30,000 ($30,000 - $20,000 = $10,000 capital gain). Rather than have the $10,000 profit taxed...
SusanPricewaterhouseCoopersCarlowPricewaterhouseCoopersLouPricewaterhouseCoopersCorporate TaxationSTANLEY, S. y CARLOW, L., "Impact of Exchange of Tax Information between the IRS and Foreign Tax Authorities", Corporate Taxation, vol. 35, num. 3, 2008....
Though, for reporting nonemployee compensation in exchange for products and services rendered, you will typically use Form 1099-NEC. Landlords are typically required to file 1099-MISC forms for payments made to property managers, contractors, attorneys, repair professionals and anyone else who perf...
exchange rates posted by theBureau of the Fiscal Serviceor another public document if that isn't available. Taxpayers must specify the foreign currency, the exchange rate used, and the source of the exchange rate information, particularly if it's something other than the Bureau of the Fiscal ...