International Tax Compliance
There’s a lot involved with international tax compliance and many firms don’t have the resources to provide the help you need. The last thing you want is problems with the IRS or international tax authorities because your CPA is inexperienced. Plus, you might miss out on tax opportunities. Our professionals specialize in global tax compliance and are up to speed on all the international tax compliance regulations that impacts you:
- Foreign trusts – U.S. tax returns for U.S. owners of foreign grantor and non-grantor trusts
- Foreign bank account reporting FBAR Form 90-22.1
- Foreign corporations filing U.S. branch returns
- Foreign partners who are owners of U.S. partnerships
- Maximizing the use of foreign tax credits
- Tax forms for nonresident investors – Form 1040NR, Form 1042 and Form 8804/8805
Expatriate/Nonresident Alien Tax Returns
The first step to identify the right international tax planning strategies is to determine your resident status.
Nonresident alien – This means you are not a United States citizen or a United States resident alien for any period of time.
Resident Alien – You are considered a resident alien if in the past calendar year you met either the green card test or the substantial presence test.
- Green card test – You were a lawful, permanent resident of the United States during the past calendar year and your status was not revoked for any reason.
- Substantial presence test – You have been physically present in the United States on at least 31 days during the current year and 183 days during the three year period that includes the current year and the two years immediately before.
Resident status can be confusing because even if you meet the substantial presence test, you can still be treated as a nonresident alien. Let our professionals take the stress off of you by handling your resident status and more:
- Compensation relocation consulting
- Income, estate and gift tax planning
- Pre-departure tax planning
- Pre-immigration tax planning
- Tax equalization/protection policies
- Totalization agreement
U.S. Owned Foreign Business
Planning to take your business global? You need to know the tax consequences in the U.S. and the benefits of your investment. You could face negative effects and have a significant tax burden if, for example, you don’t choose the best foreign entity operation.
Getting the right advice before you make a decision will save your company time, money and resources. Trying to undo an unfavorable structure can be quite difficult and costly.
Our professionals work with clients who have foreign operations in the United Kingdom, Germany, Canada, Mexico, Singapore, China, Japan and France – the list goes on. Let us help you with:
- Treaty-based return optimization
- Choosing the best foreign entity structure
- Preparing all U.S. required international tax returns
- Establishing bank and legal relationships and asset protection trusts
Questions about global tax reporting? Fill out the form to the left to contact Debra Callicutt.