U.S. Supreme Court building in Washington, D.C. Photo: Diego M. Radzinschi/ALM Tax Attorneys Welcome SCOTUS Ruling on Foreign Investment Reporting Rules With Cautious Optimism
"I think they'll take a harder look at the willful vs. non-willful in order to get those penalty numbers back up to what they otherwise would have done," warned one tax attorney.
March 06, 2023 at 02:55 PM
4 minute read
Tax
Tax attorneys are already taking the U.S. Supreme Court up on their new interpretation of penalties associated with taxes on foreign income, a ruling that spells good and bad news for those with money overseas.
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