Major win for small business owners abroad and in the US. We are GILTI no more!
Small Businesses win huge victory from Treasury. Its official. In addition to granting us two temporary forms of relief in 2018, Treasury just granted us our first permanent form of relief since we started the movement less than one year ago! Small business owners will be able avoid GILTI taxes if they make the 962 election.
Sit back and relish a victory. Together, we accomplished something very significant. And the lawsuit we recently filed will accomplish much more!
For complete rule, see link below. The portion dealing with us, which you see in this entry, is on page 49-50 of the document.