Taxation of Foreign Branches Under Current Tax Law: Qualified Business Units, Foreign Tax Credits, Anti-Hybrid Rules

Mr. Diosdi is an experienced trial lawyer who regularly defends individuals and corporations in matters involving tax controversies and government regulatory enforcement. He also has vast experience assisting clients who find themselves with unreported or undeclared bank accounts outside the U.S. Mr. Diosdi is acknowledged as one of the nation’s leading experts in contesting penalties associated with failing to file FBARs. In addition to representing clients in tax controversy matters, he advises clients on U.S. international tax matters, including tax planning with respect to their structures and transactions. In particular, Mr. Diosdi has experience advising on issues relating to tax treaties, pre-immigration planning for foreigners moving to the U.S., expatriation planning, tax planning for foreign companies doing business in the U.S., and subpart F income minimization. More recently, he has focused on helping clients navigate U.S. tax reform, including the regimes for Global Intangible Low-Taxed Income and Foreign-Derived Intangible Income, and the new limitations on foreign tax credits.

Mr. Harrington is the co-leader of Dentons' US Tax practice, which was recognized by The Legal 500 in 2023 for outstanding work in international and non-contentious tax. Recognized by Chambers Global as a Notable Practitioner, he advises clients on inbound and outbound transactional and compliance issues; international tax legislative, regulatory and treaty matters; and a variety of domestic tax issues. Mr. Harrington has extensive experience in dealing with the foreign tax credit, with subpart F and cross-border activities of companies and individuals and with other international tax issues. Prior to joining Dentons, he served as international tax counsel for the Department of Treasury. There Mr. Harrington worked closely with the Internal Revenue Service (IRS) in developing regulations and other administrative guidance. He represented the Treasury Department and worked with congressional committees and staff on tax treaties and international tax aspects of legislation. Mr. Harrington has also played an active role in tax treaty negotiations, and in drafting technical explanations and revisions to existing treaties. He worked closely with tax officials in other countries, and he served as the United States' representative at meetings of the Organization for Economic Cooperation and Development (OECD) Committee on Fiscal Affairs and at World Trade Organization (WTO) meetings on tax-related trade disputes.