The Government Accountability Office (GAO) has published a report that examines how certain provisions of the Tax Cuts and Jobs Act may be affecting U.S.-based corporations’ international business activities. The GAO met with officials representing eight U.S.-based companies and found that there was “considerable uncertainty.” According to the GAO: “Some companies reported making specific changes, such as moving intellectual property back to the U.S. in response to a new deduction for income earned from certain foreign-derived sales of property or services attributed to assets located in the U.S.” Read the GAO report here: https://bit.ly/3wUIxNk Call or visit our website for more information! www.mjscpa.com/
