International Taxation

Doing Business in Russia

Below are some typical questions that may arise when a business owner is considering expanding operations into Russia. Please be advised the Q&A summary below is intended for general use only and should not be relied upon. When a business … read more

Doing Business in Italy

Below are some typical questions that may arise when a business owner is considering expanding operations into Italy. Please be advised the Q&A summary below is intended for general use only and should not be relied upon. When a business … read more

New ITIN Policy Change for 2013

Foreign taxpayers applying for an Individual Taxpayer Identification Number (ITIN) were hit with some strict application requirements during 2012.  The IRS began to demand original identification documentation with Form W-7 or certified copies of documentation from the issuing agency.  The … read more

New ID Number Requirement on Forms 5471, 8858, and 8865

An Employer Identification Number (EIN) has always been an optional entry on forms 5471, 8858, and 8865.  However, the IRS has implemented a new form of identification number on these forms called a Unique Reference Identification number (URI).  The URI … read more

New Favorable Private Letter Ruling for a U.S. Taxpayer with A Bank Trust in Mexico

The IRS announced, by issue of a private letter ruling (PLR) on July 30, 2012, that a fideicomiso or Mexican Land Trust (“MLT”) is not a trust within the meaning of Regulation 301.7701-4(a). This conclusion relieved one taxpayer of an … read more

New ITIN Application Requirements

In the past when applying for an Individual Tax Identification Number (ITIN), applicants could send notarized copies of supporting documentation, such as their passport or birth certificate, with their W-7 application.  The IRS is currently trying to strengthen and protect … read more

IRS Helps U.S. Citizens Abroad With U.S. Tax Compliance

The IRS understands that many U.S. citizens living overseas are becoming more aware of their tax filing obligations and want to comply with the law.  The recent offshore voluntary disclosure programs have resulted in a large number of taxpayers coming … read more

United Kingdom Residents Investing in the U.S.

Non resident individuals investing in the U.S. may encounter many tax problems when their home country applies different tax treatment to an investment. One such example of this problem occurs when a United Kingdom investor becomes an owner or partner … read more

8938 Requirement for Business Entities Postponed

As a follow up to the blog Ringing In the New Year, the IRS just released the final version of Form 8938, Statement of Specified Foreign Financial Assets, and its instructions.  Individuals must refer to these instructions to report specified … read more

Welcome


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, LLP 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.


Before posting a comment on a blog post please be aware that we do not give free tax advice to non-clients by email, comment response, or phone. Thank you!


Contact Us

Newsletter

Recent Posts

Archives




Twitter

Categories