International Taxation

Credit for Taxes Paid to Another State or Country

Keep your accountant on their toes and check your returns. You should always check your income tax returns before signing and ask your accountant about any questions you may have. Accountants are people too and mistakes do happen, so make … read more

What’s at Stake in Battle of Intel vs. IRS?

You may or may not have read the news lately, but there has been a battle between Intel and the IRS which could lead other companies to have big tax “windfalls”. The discrepancy comes from recording and reporting stock-based compensation … read more

Going Nowhere FAST if You Owe Taxes

Tax season has come to an end and the season for travel is approaching. So as I wait for clients that are on extension to provide me some missing information, I found myself browsing tax news and articles (Exciting, I … read more

Intergovernmental Agreements

The Foreign Account Tax Compliance Act (FATCA) was created to prevent offshore tax evasion of U.S. taxpayers. As part of the IRS initiative for international data exchange, certain foreign entities have additional reporting requirements. If these entities fail to comply, … read more

New FATCA FAQs Released

As many taxpayers attempt to comply with the Foreign Account Tax Compliance Act (FATCA), they are facing challenges understanding and conforming to the requirements. In an attempt to clarify these complex rules, the IRS has issued Frequently Asked Questions (FAQs) … read more

UK Double Taxation Relief for the U.S. LLC

A recent UK high court decision provides insight and HMRC may grant flow through treatment status for certain qualified United States LLCs. Prior to this decision, HMRC has denied UK investors relief from double taxation in the UK. On July … read more

BEA Survey Requirements

Unless you received a letter from the Bureau of Economic Analysis (BEA) requesting you complete a survey, you may not have been aware of the existence of these surveys. Although BEA surveys have been around for a number of years, … read more

Health Coverage Exemption if You Live Outside the U.S.

U.S. persons living outside the U.S. may qualify for the health coverage exemption, meaning you may not have to pay the penalty (The Individual Shared Responsibility Payment) for the months you did not have minimum essential health coverage, as long … read more

Are PayPal Accounts Reported on the FBAR?

When filing your Report of Foreign Bank and Financial Accounts (FBAR), you may not be inclined to report your offshore PayPal account. After all, PayPal accounts aren’t real bank accounts, right? Well, you may need to think twice about this … read more

States Focus on the Taxation of Cloud Based Services

With the ever-increasing advances in technology, taxation of cloud based services and products have recently piqued the interest of state taxing authorities. Many of the existing state tax laws do not specifically address these issues, since the laws were written … read more


There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.

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