The Friday Edition
A biweekly newsletter for international tax professionals
What’s New This Week?
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How To Report A Distribution From A Lower-Tier PFIC
Hello and welcome to The Friday Edition. Phil Hodgen here. Reminder A Question from Real Life In the International Tax Pros community we have a monthly Ask Anyone Anything session. Those of us who are solo or in small firms need experienced practitioners to brainstorm with. This week a members brought up a problem he’s working on: tiered PFICs and how to report the distributions from the lower-tier PFIC. We all know how the story should end (a dollar of income gets taxed only once), but how do you actually make that happen on a tax return? And why? The client immigrated…