Individuals Can Get Foreign Tax Deduction, Treasury Says


Steven Hadjilogiou commented on the IRS and Treasury Department’s regulation to allow individuals with businesses abroad to be eligible to receive a deduction on their intangible income worth up to 50 percent. “There was a lot of confusion, and people were waiting a very long time to get this answer,” he said. “If you’re going to treat an individual as if they’re C corps, you should give them the same benefits that a C corp should have.”