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Jeff Paravano Comments on First Guidelines for Repatriation Tax Policy

News / January 2, 2018

Partner Jeff Paravano is quoted in an article published Jan. 2, 2018, by Bloomberg BNA. The article, “IRS Issues First Repatriation Tax Guidance Under New Law,” discusses the first major guidance for multinationals under the new tax law. The notice addresses questions regarding a one-time tax on the accumulated offshore earnings and profits that are required to be repatriated.

Paravano said it is helpful that the IRS assured taxpayers they could rely on the notice until the agency writes regulations, adding, “Even though changes may be made to the rules based on taxpayer comments, the guidance provides a level of certainty that is useful to taxpayers for purposes of financial accounting and reporting.”

Read the article (registration required).

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