How IRS Rules on Passive Foreign Investment Companies Affect American Expat Investors
Background While many parts of the U.S. tax code are both convoluted and punitive, the IRS regulations involving the treatment of PFICs – Passive Foreign Investment Companies (PFICs) are almost unmatched in their complexity and harsh tax treatment. The PFIC regime is a penalty provision that taxes gains and distributions at the highest tax rate […]
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