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Let’s talk about the QEF Election for PFICs
While many portions of the U.S. tax code possess confusing and sometimes harsh rulings, the tax regime for Passive Foreign Investment Companies (PFIC) is almost unmatched in its complexity and almost draconian features. For a primer on PFICs, please read here – https://htj.tax/2015/08/what-is-pfic/ The PFIC rules were enacted to eliminate beneficial tax treatment for certain […]
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