Time to Close the Foreign Investors Tax Loophole

Congress will put together a tax reform bill with the goal of eliminating tax loopholes, simplifying the tax system and reducing tax rates.  One loophole that they should eliminate is the most self-destructive tax loophole ever enacted, the Foreign Investors Tax Loophole [Sections §871(h,i,k) and §881(c,d,e) of the Internal Revenue Service code]. Enacted in 1984, it lets…