The Tax Cuts and Jobs Act, passed into law in December 2017, is going to significantly affect the amount of taxes on income paid by U.S. companies. The major provisions of the Act include a drop in corporate tax rate … Continue reading
Category Archives: Indefinitely Reinvested Foreign Earnings
Untaxed Foreign Earnings of Top Companies Increased by Billions
With an estimated $2.8 trillion overseas, it’s no wonder indefinitely reinvested foreign earnings (IRFE) continue to attract so much attention. The White House recently issued a press release, citing Audit Analytics, calling for an end to the “offshoring model” and … Continue reading
Indefinitely Reinvested Foreign Earnings Still Climbing
Last week, Audit Analytics published their annual Indefinitely Reinvested Foreign Earnings report which takes a closer look at the balances held overseas by Russell 1000 companies over the last nine years. These earnings, which remain untaxed unless they are repatriated to … Continue reading
Repatriation Tax Holiday: A “one-time” thing?
One of the points of the business tax plan that President Trump campaigned on was a provision that would permit companies to repatriate earnings held overseas at a one-time reduced rate of 10%: “It will provide a deemed repatriation of corporate … Continue reading
SEC Comment Letters: A Look at Top Issues in 2016
Each year, Audit Analytics looks at the big picture of comment letter activity to see what important issues the SEC is focusing on, and how they compare to prior years. In the first half of 2016, 2,491 comment letters 1 (1,452 … Continue reading
2015 SEC Filing Highlights, Part 1 of 2
In this post, our second annual “best-of-the-year” review, we’ll look at 2015 filings for some of the highlights of the year: the largest restatement, for example, and the biggest overseas stash. We’ll also look at lengthy comment letter correspondence, give a quick recap of … Continue reading
Tax Implications of IRFE Repatriation
Benjamin Franklin once noted that “in this world nothing can be said to be certain, except death and taxes.” While this maxim is perfectly applicable to mere mortals, public companies, at least in theory, can live on indefinitely. (According to … Continue reading