Music, this is the peak at Texas entrepreneurs' playbook. I'm Jen Lemansky and I'm back again with Franklin Journal, one of our international tax directors, Frank. Welcome back to the playbook. Well, thanks, Jim. It's great to be back. So, we've been talking about IC-DISC, and last time we talked about tax reform. What's changed strategy-wise since before tax reform and now after tax reform? Yeah, I think with IC-DISC, it's kind of a "back to the future" type of thing because when the IC-DISC came out, it was really meant to be a deferral tactic and to really get tax advantages because you're deferring the recognition of the IC-DISC income, or really the export income. And then, with the Tax Reform Act of 2003, as we talked about in the last segment, you know, dividend income and capital gains got taxed at the capital gains rate, a much lower rate than ordinary income rates. Then, the strategy pivoted to be one of a distribution or repatriation strategy. So, people weren't really using IC-DISCs to hold cash and fund operations, but rather they made dividends. And so, now, depending on what type of entity you are with the new tax reform, the strategy may still be the same in some cases. Let's say our flow-through entities like S corporations, where the effective tax rate is like 29.6%. There's still a pretty good arbitrage between that and the capital gains rate. But if you are a C corporation or regular domestic corporation, then you really get no arbitrage, and so the strategy of repatriation just isn't there. Yeah, so you might have to change a little bit. That's right. Is there any other information that might be helpful for those who are trying to make that decision? So, for C corporations, you kind of go...
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Form 1040-ES (NR) and Form 1040-NR (NR-EZ) for persons of all ages who are eligible to file the return and have paid the full tax due. The 2 U.S. Nonresident Income Tax Return. This publication is useful in preparing forms for the return year. 2 Estimated Tax Return. This publication provides additional details about estimated tax. The 2 Taxable Individual Portion. This publication provides details about what a section 890NR form means. How to File the 2024 IRS Form 1040NR, American Samoa Nondeductible Gift. The forms you can use to prepare and file the 2024 tax return are listed in the tables below. 2 Nonresident Individual's Tax Return (NR) for tax filers with income between 0-9,275. Estate Planning 2019 – 2024 Estate Planning for Individuals & Filing Estates & Trusts How to use Estate & Legacy Planning Forms The forms you can use to prepare and file the 2024 estate, estate planning, probate and gift planning for individuals and trusts schedules are listed in the following tables. 2018 Schedule of Deceased Personal Representative Filing 2033 Estates For Individuals And Trusts. This publication provides detailed information and is the same for all estates. 2018 Estate and Gift Planning Information: Estates & Trusts (2 copies). It contains information about all forms you need for each estate, as well as the 2024 forms published by the Internal Revenue Service. Estates: 2033 Estate & Trust For Individuals. This form provides an overview of the estate planning and probate processes for estates. Estates: 2033 Estate & Trust For Estates. This form provides an overview of the estate planning and estate tax process for estates. Estates: 2033 Estate & Trust For Estates, Trusts, Relatives. This form provides an overview of the estate planning and estate tax process for estates, trusts, and relatives. 2019 – 2024 Estates and Estates Trusts For Individuals And Filing An Estate. How to use Estate Planning Form The forms you can use to prepare and file the 2024 estate and estate planning form is listed in the tables below. 2033 Estate For Individuals And Filing Estate & Trusts.
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