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Transfer Pricing Audits Focus on International Businesses

IRS transfer pricing audits focus on international businesses and the transfer of goods and/or services between affiliated companies.  The IRS recently established a new Large Business & International (LB&I) audit team specifically tasked with reviewing US businesses and multinational corporations with exchanges between companies within the same constellation of corporate entities. ...

Many Working in the US on an H1-B Visa Need to Understand IRS PFIC Taxation

Many professionals and scientists working in the US on an H1-B visa need to understand IRS PFIC taxation and the implications of continuing many offshore investments.  What are PFICs and why would high income professionals in the US on an H1-B visa need to understand IRS PFIC taxation rules?  The challenge...