Tax Implications for Earnings of Foreign Subsidiaries

Under the current U.S. tax rules, non-U.S. earnings are generally not subject to U.S. tax until the earnings are repatriated.   While the U.S. tax system generally taxes income of U.S. taxpayers wherever earned, profits earned from active overseas businesses, as opposed to passive overseas investments, are generally

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Tax Reform Package Proposed is Received with Mixed Reactions

House Ways and Means Committee Chairman Dave Camp, R-Mich., unveiled his long-awaited comprehensive tax reform package on February 26 to mixed reaction. Camp’s proposed Tax Reform Bill of 2014 would reduce the number of individual tax brackets, cut the corporate tax rate, simplify, repeal or curtail many popular

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