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Tax Notes International, July 10, 2020, published by Tax Analysts

American Citizens Abroad Calls for De Minimis Rule in GILTI Regs

"Amending transition tax and global intangible low-taxed income regulations, and Foreign Account Tax Compliance Act regs, to include a de minimis rule would reduce tax burdens of overseas small businesses classified as controlled foreign corporations, American Citizens Abroad said in a July 10 letter to Treasury and the IRS."