International Tax Issues

Free CPA TCP (Tax Compliance & Planning) lesson in Entity Tax Compliance. 19 min read, ~2,814 words.

Income source (U.S. vs. foreign) determines taxability and foreign tax credit eligibility; source rules differ by income type (services where performed, inventory where title passes, interest/dividends by payor residence). A controlled foreign corporation (CFC) exists when U.S. shareholders owning 10%+ collectively hold more than 50% vote or value; Subpart F...