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LifestyleSUNDAY, FEBRUARY 1, 2015G o s s I play Z and Beyoncé are still
looking for their dream dovetailed to secure a house in Beverly Hills after losing
a ×70 million bidding war to Markus Notch
Person,
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What is g o s s?
G O S S stands for Global Intangible Low-Taxed Income (GILTI), which is a provision of the US tax code.
Who is required to file g o s s?
US shareholders of Controlled Foreign Corporations (CFCs) are required to file GILTI.
How to fill out g o s s?
GILTI is reported on Form 8992 attached to the individual or corporate tax return.
What is the purpose of g o s s?
The purpose of GILTI is to prevent US multinational corporations from shifting profits to low-tax jurisdictions.
What information must be reported on g o s s?
Income earned by CFCs that exceeds a certain threshold must be reported.
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