Part of President Trump’s sweeping tax legislation enacted in 2017 which was meant to affect large multinational corporations like Apple and Google is also catching US citizens and green card holders who have interests in companies outside the US.
The so-called “repatriation tax” was intended to encourage US companies to bring money being held offshore back to the US. In other words, Apple’s profits fell (and remained) too far from the tree. Based on some reports, the new law seems to be having its intended effect. Technology giant Cisco Systems announced on Valentine’s Day that it would mo...