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The American Jobs Creation Act of 2004 (AJCA) is providing $137 billion in tax cuts over 10 years and comprises three major elements: tax relief for U.S.-based manufacturing activities, reforms in the taxation of multinational businesses and four dozen targeted items of business income tax relief. The act also contains targeted individual tax cuts and excise tax reforms.
Passage of this major tax bill presented U.S. companies with significant new tax-planning opportunities and challenges. The attached documents—prepared by the Tax Policy Services Group of Deloitte Tax LLP and Deloitte Tax professionals—will help you understand the act and learn about requirements for compliance, tax planning, risk management, controls and processes. Deloitte Tax professionals can help you navigate the significant changes resulting from the AJCA and assist you with future tax planning needs.
Section 965: A one-year elective tax benefit for U.S. companies that receive cash dividends from certain foreign corporations
Section 199: Deduction for most companies with domestic production activities
S Corporation Conversion: More companies are now eligible to elect S corporation status with new rules introduced by AJCA legislation.
Newsletters
Tax News & Views - A weekly newsletter providing a reader-friendly perspective on significant tax developments coming out of Congress, the IRS and the federal courts, including the latest information on AJCA-related changes
Dbriefs
Dbriefs Webcasts feature Deloitte professionals discussing critical issues that could affect your business; Dbriefs offer informative, timely and relevant topics, and you can attend from the convenience of your office. Search our archives for all AJCA related Webcasts.
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