what is a PFIC

What Is A Passive Foreign Investment Company or PFIC?

What Is A Passive Foreign Investment Company Otherwise Known As A PFIC? – It’s only specific for U.S. citizens residing in Australia, dual nationals of U.S. and Australia, as well as Australian expats residing in the U.S. A Passive Foreign Investment Company, or PFIC, as the definition states in the IRS’s tax code, is any …

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