In this episode international tax advisor Lewis Kevelson shares tips and traps for international families with US assets.
A fragile global economy and political uncertainty continue to fuel the United States’ status as the world’s most attractive location for foreign investment. However, investors chasing positive returns, high yields and portfolio diversification often face a tricky U.S. tax system that may provide tax-savings opportunities in some instances and costly income-tax traps in others. Contrary […]
In this episode Associate Director of Tax Services Tony Huber explains some of the nuances of international mergers and acquisitions.
Immigrations laws in the U.S. differ from the country’s tax laws, which require individuals to report and pay federal income tax based upon the government’s classification of their residency status. While it is not uncommon for someone to live in the U.S. without establishing residency for tax purposes, it is important to recognize when this […]
The IRS recently announced it will provide retroactive penalty relief to taxpayers that failed to file certain tax and information returns on time during the COVID pandemic. To receive this automatic waiver of penalties, domestic and international individuals, businesses, and trusts and estates must file an applicable income tax return on or before Sept. 30, […]
In this episode Director of International Tax Services Lewis Kevelson discusses pre-immigration tax planning and why it’s so important to start before you start the citizenship process.
In this episode Director of International Tax Services Art Dichter explains when foreign trusts are useful and how they play into tax planning.
With tax-filing season underway, foreign persons should be prepared to meet their unique U.S. tax-reporting and -payment responsibilities based on their tax residency status. Following are three important factors non-U.S. persons should keep in mind and act on sooner than later to avoid penalties for non-compliance. Know Your Income Tax Status Under U.S. tax laws, […]
The IRS, buried under millions of unprocessed tax returns from tax year 2020, is suspending the automatic mailings of certain letters and notices it usually generates when it identifies individuals and businesses that failed to file required tax returns or that owe additional taxes. The announcement comes just weeks after the IRS began accepting tax […]
With so much attention paid to the impact of the COVID-19 pandemic and the various forms of U.S. government stimulus, international businesses with foreign investors may have missed the passage of a new U.S. law imposing stricter anti-money-laundering compliance procedures for disclosing the identities of their beneficial owners beginning as soon as 2022. On Jan. […]