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Introduction The 1986 PFIC rules created a new tax regime for U.S. investors in certain foreign corporations. Generally, the rules should be understood to mean: If you do NOT pay tax before having received a distribution (1295 QEF Election usually resulting in @DoubleTaxation ) you will pay… pic.twitter.com/0l8IHKatV5 — John Richardson – Counsellor for US persons abroad (@ExpatriationLaw)…

PFICs were introduced as part of the 1986 tax reform. In order to understand the intent of the PFIC rules it is useful to read the general explanation of the tax reform act. The explanation starts at page 1021 of the document or page 1037 of the pdf. It is worth the read … https://web.archive.org/web/20120507115421/https://www.jct.gov/jcs-10-87.pdf/ jcs-10-87 John Richardson – Follow me on…

Let There Be Income And There Was Income! The United States has an increasing propensity to create “deemed income” in circumstances where the taxpayer has received no income to pay the tax. In some cases the “deemed income” created is “foreign source” income. In other cases it is purely domestic source. When the “deemed income” is “foreign source” income over which the other country has primary…

On the 23rd of February, we will hold a webinar to help you with your business. Learn how to stay in compliance with FATCA and PFIC rules while avoiding costly investment hazards.

You should be aware of the six costly mistakes that should be avoided after watching this webinar. Learn how to avoid costly investment pitfalls and stay in compliance with FATCA and PFIC requirements.

The most common financial mistake is investing in a foreign mutual fund. We can assist you with PFIC Compliance for Foreign Mutual Funds, as well as PFIC Compliant Investments. We guide you to invest in the right place to avoid the extra tax.