News

Jeff Paravano, Paul Schmidt Comment on IRS Announcement on Repatriation Compliance Campaign

News / February 3, 2017

Partners Jeff Paravano and Paul Schmidt are quoted in an article published Feb. 3, 2017, in Bloomberg BNA’s “Daily Tax Report.” The article, “IRS Aiming at Mysterious Repatriation Deals: Tax Attorneys,” discusses the Internal Revenue Service’s (IRS) recent announcement that it has a new strategy to stop companies from improperly bringing foreign cash back to the U.S. tax free. The agency, however, did not provide details regarding what structures the IRS is monitoring. Paravano and Schmidt discussed the IRS guidance and noted that many companies are taking a “wait and see” approach until there is more clarity on this issue, tax reform and other legislation.

Read the article (registration required).