Prospects for “Moore” Damage to Our Tax Code – Tax Policy Center
“For many years, Charles and Kathleen Moore owned stock of a controlled foreign corporation (CFC), or a foreign corporation whose ownership or voting rights are more than 50 percent owned by US persons who each own at least 10 percent. In 2017, the Moores incurred a $15,000 tax bill on their corporation’s undistributed earnings resulting from the TCJA.”