Treasury grants two month extension on repatriation tax
The Department of the Treasury has granted a two month extension for making the first payment of the Repatriation Tax included in the Tax Cuts & Jobs Act of 2017.
The full advice from the Treasury can be read here.
The relevant information on the Repatriation Tax can be found on page 36. A picture of the relevant page is included at the top.
Our understanding is that this extension is granted automatically and without having to apply for it, but we do urge individual business owners to seek professional tax advice if in doubt.
Republicans Overseas thanks everyone who signed a petition, both ours and that sponsored by Monte Silver. We still have more work to do, but we now have a little more time in which to accomplish it.