Obama's Tax Proposals Target U.S. Persons and U.S. Businesses with Foreign Activities


Every U.S. individual and business engaged in foreign activities should take note of President Obama's recent tax proposals. On May 4, 2009, President Obama released information on a plan to raise $210 billion over a ten-year period by curbing the use of offshore tax havens and encouraging U.S. businesses to create jobs in the United States. The President's plan affects tax deferral rules, the foreign tax credit, entity classification and information reporting requirements of U.S. persons with foreign activities. The plan also targets U.S. persons holding funds outside the United States.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Lane Powell PC | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.