OrbitaxU.S. Treasury Issues Report on Implementation of the Tax Cuts and Jobs Act Including the Repatriation (Transition) Tax
|Approved Changes|United States
The U.S. Treasury Inspector General for Tax Administration (TIGTA) issued a final report on 22 May 2019 on the Implementation of the Tax Cuts and Jobs Act, including, in particular, the deemed repatriation (transition) tax on the post-1986 accumulated earnings and profits of foreign corporations.
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IMPACT ON TAXPAYERS
On December 22, 2017, the Tax Cuts and Jobs Act (hereafter referred to …
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