In May the IRS made it tougher for foreign investors to escape taxation.
Robert Willens, CFO.com | US
June 14, 2010
Mr. Williams: Your keen eye caught an error that I introduced while editing the piece for Mr. Willens. The mistake will be corrected immediately -- thanks again for taking the time to write.
Posted by Marie Leone | June 15, 2010 03:00 pm
IRS Section 957(a) defines a Controlled Foreign Corporation (CFC) as ANY corporation organized outside the U.S. that is more than 50 percent owned by U.S. shareholders. This definition is not limited to only PUBLIC companies as stated in the second paragraph of this otherwise finely written article.
Posted by George Williams | June 15, 2010 02:55 pm© CFO Publishing Corporation 2009. All rights reserved.