The U.S. IRS has issued a release on additional details on transition tax on untaxed foreign earnings.
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IRS provides additional details on transition tax on untaxed foreign earnings
IR-2019-128, July 16, 2019]
WASHINGTON — The Internal Revenue Service provided additional information to help taxpayers meet their filing and payment requirements for the Section 965 transition tax on untaxed foreign earnings.
The Tax Cuts and Jobs Act requires certain taxpayers that have untaxed foreign …