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When U.S. ownership of a foreign corporation is—at most—50%, the foreign corporation, though an operating business, may fall under a special, punitive classification called passive foreign investment company. Learn in depth how to analyze the foreign corporation's income and assets to determine whether the foreign corporation is—or is at risk of becoming—a PFIC.
View all webcasts offered in the International Tax Lunch Series.
CPAs and attorneys.
Haoshen Zhong is a lawyer working at HodgenLaw PC, where he works with CPAs in the firm to identify and classify unusual foreign assets. He is commonly asked to examine hair-splitting regulations and areas where the IRS has published scant guidance, then come to a conclusion about how to treat a foreign asset. He first worked with PFICs in the context of foreign insurance plans and from there expanded into other matters related to them. Zhong received his juris doctor degree from U.C. Hastings. Before joining HodgenLaw, he was a patent agent.