Tax Law and News State Conformity to Federal Section 965 Transition Tax Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Mike D'Avolio, CPA, JD Modified Jun 18, 2019 0 min read Under the Tax Cuts and Jobs Act, Sec. 965 requires U.S. shareholders to pay a transition tax on the untaxed foreign earnings of certain foreign corporations as if those earnings had been repatriated to the United States. This transition tax may have to be paid on 2017 tax returns. Please refer to IRS.gov for additional information. Stay tuned to Intuit’s article “Sec. 965 Transition Tax,” which provides a guide to how each of the states are conforming, not conforming and addressing the federal 965 transition tax. Previous Post October 2018 Tax and Compliance Deadlines Next Post IRS Announces New Employer Tax Credit for Paid Family and… Written by Mike D'Avolio, CPA, JD Mike D’Avolio, CPA, JD, is a tax law specialist for Intuit® ProConnect™ Group, where he has worked since 1987. He monitors legislative and regulatory activity, serves as a government liaison, circulates information to employees and customers, analyzes and tests software, trains employees and customers, and serves as a public relations representative. More from Mike D'Avolio, CPA, JD Comments are closed. Browse Related Articles Practice Management ProSeries® Tax spotlight: Nayo Carter-Gray, EA, MBA Practice Management Consultant Spotlight: Katherine Weiler Webinars Technology and Your Clients: Dec. 19 Webinars Escalating IRS Correspondence: Dec. 17 Webinars Intuit Hosting Hacks: Dec. 18 Webinars 5 Tips to Automate Tax Season: Dec. 17 Webinars SafeSend + Intuit = Engagement: Dec. 10 Webinars What’s New in ProConnect: Dec. 10 Practice Management Consultant spotlight: Ahmed Lotfy Practice Management Consultant spotlight: Jorge Guadalupe Pacheco Tarango