The Friday Edition
A biweekly newsletter for international tax professionals
What’s New This Week?
How to fix a problematic check-the-box election
Hello and welcome to The Friday Edition, an every-other-Friday international tax newsletter. I’m Phil Hodgen, and international tax lawyering is what I do in my day job. Check-the-box elections gone wild Let’s talk about fixing messes. In particular, fixing a mess made by a check-the-box election. How can you hit the “reset” button? It’s easier to fix than you think. Or, at least, it’s easier than I thought when I saw this for the first time. How a check-the-box election can increase tax liability A domestic corporation is allowed a deduction equal to 37.5% of its foreign-derived intangible income. This…