The US Internal Revenue Service  (IRS) issued an Office of Chief Counsel memorandum clarifying that a controlled foreign corporation (CFC) is not eligible for a dividends received deduction under section 245A. This memorandum provides

The US Department of the Treasury announced on 29 October 2024 that the US and Taiwan, under the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO), will begin

The US Internal Revenue Service (IRS) issued an updated practice unit titled, ‘IRC Section 250 Deduction: Foreign-Derived Intangible Income (FDII) on 24 October 2024. This revision eliminates references to unavailable resources and replaces the

Liechtenstein and the US delegation met on 22 October 2024 to discuss bilateral cooperation. Liechtenstein expressed interest in signing an income tax treaty with the US in the meeting. If an agreement is reached, it will be the first tax

The Congressional Research Service (CRS) released the In Focus report (IF 12789 ) at the US Library of Congress on 22 October 2024. This report analysed the mortgage interest deduction, highlighting policy options that Congress may

The US Treasury Department and the IRS published the final rules for the advanced manufacturing production tax credit under Internal Revenue Code (IRC) section 45X in the federal register on 28 October 2024. The final regulations  ( RIN