Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Michael Boyle is an experienced financial ...
On Jan. 24, 2022, the Internal Revenue Service issued proposed regulations that impact certain elections available to U.S. taxpayers with respect to their indirect interests in passive foreign ...
The tax rules for passive foreign investment companies are complicated. Source: Rurik, Wikimedia Commons. It's good to know what a passive foreign investment company (PFIC) is, because if you're ...
Seemingly small details can make a big difference with income taxes. That’s why many Canada-based asset-management firms now provide their American taxpayer clients with U.S. tax information ...
Doug Goldstein, CFP and director of Profile Investment Services Ltd., and, Stacy Collier, CPA, discuss the harsh realities of PFICs (Passive Foreign Investments Companies) and how they relate to ...
Therefore, if a taxpayer owns multiple PFICs, they could spend more than a standard work week satisfying the IRS filing requirements, along with an additional 28 ½ hours dedicated to recordkeeping and ...
It's good to know what a passive foreign investment company (PFIC) is, because if you're invested in one, you may be required to file certain tax forms, follow certain tax rules, and probably pay more ...
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