The Internal Revenue Service has released the summer 2014 edition of its quarterly Statistics of Income Bulletin, providing data on foreign controlled domestic corporations and municipal bonds from tax year 2011.
The IRS’s Statistics of Income Division produces the online bulletin, whose articles provide the most recent data available from various tax and information returns filed by U.S. taxpayers. The IRS found that 76,793 foreign-controlled domestic corporations, or FCDCs, filed in tax year 2011, but they accounted for only 1.3 percent of all U.S. corporate income tax returns filed that year.
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