tax traps

Controlled foreign corporation attribution traps (ownership, tests)

Have you ever found yourself tangled in the complex web of Controlled Foreign Corporation (CFC) rules, unsure how ownership and attribution tests might unexpectedly catch you off guard? You’re not alone—many taxpayers and businesses face hidden trap…

King of Hacks

Form 1118 corporate foreign tax credit carryback traps (limits, compliance, example)

Have you ever been caught off guard by the complex rules surrounding the Form 1118 corporate foreign tax credit carryback? You're not alone. Many corporations find themselves tangled in unexpected limits and compliance pitfalls when trying to ma…

King of Hacks

Form 8962 premium tax credit traps (income changes, reconciliation, penalty)

Have you ever wondered how changes in your income might unexpectedly affect your health insurance premium tax credits? Form 8962 can feel like a maze, especially when you’re navigating income fluctuations, reconciliation, and potential penalties. Yo…

King of Hacks
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