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Payments of U.S.-Source Income to Foreign Persons Skyrocketed Between 2005, 2007

March 2, 2010 in Daily Tax Report · Leave a Comment 

Payments of U.S.-source income to foreign persons skyrocketed more than 70 percent between 2005 and 2007, with the vast majority of the payments going to foreign corporations at an average effective tax rate of just 12.3 percent, the Internal Revenue Service reported in a March 1 analysis.

IRS also reported a significant geographic shift in…

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