Individual Tax - R&A CPAs

FDII: Tax Reform’s Overlooked Benefit of U.S. Exporters

In an effort to boost the production of U.S. goods, the 2017 Tax Act introduced a Foreign Derived Intangible Income (FDII) deduction for tax years 2018 and beyond. But despite the deduction representing a significant reduction in tax rates, the benefit remains under-utilized. If your corporation exports goods or sells services outside of the U.S.,…

In order to help taxpayers avoid scams in which criminals impersonate IRS employees, IRS has issued a Fact Sheet in which it sets out the ways that it does and does not contact taxpayers. Here are various ways that legitimate IRS employees contact taxpayers. IRS initiates most contacts with taxpayers through regular mail delivered by…