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Foreign Tax

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Foreign Tax

Expatriate Taxes

U.S. citizens and U.S. permanent residents are subject to income taxes on their worldwide income. The U.S. taxes are based upon citizenship, not on tax residency. U.S. citizens and U.S. permanent residents ...

Foreign Account Tax Compliance Act (FATCA)

This is a new law that requires foreign banks to share financial information to the US. FATCA rules requires reporting of foreign bank

Foreign Bank and Financial accounts (FBAR)

FBAR is the IRS reporting requirement of U.S Citizens and residents who own or have signature authority over financial accounts outside the United States.

Foreign Bank and Financial accounts (FBAR)

FBAR is the IRS reporting requirement of U.S Citizens and residents who own or have signature authority over financial accounts outside the United States.

Controlled Foreign Corporation (CFC)

If you are a US shareholder of a controlled foreign corporation (own 10% shares and control 10% of the voting rights), together owning ...

Controlled Foreign Corporation (CFC)

If you are a US shareholder of a controlled foreign corporation (own 10% shares and control 10% of the voting rights), together owning ...

Passive Foreign Investment Companies (PFIC)

A foreign corporation is classified as a PFIC if it satisfies either the income or the asset test. 75% or more of the foreign corporation’s

Passive Foreign Investment Companies (PFIC)

A foreign corporation is classified as a PFIC if it satisfies either the income or the asset test. 75% or more of the foreign corporation’s

How do I comply?

Many countries have signed the FATCA pact with the IRS and mandatory reporting would start on these accounts from 2015/2016. One key change is a new 50% offshore penalty that ...

How do I comply?

Many countries have signed the FATCA pact with the IRS and mandatory reporting would start on these accounts from 2015/2016. One key change is a new 50% offshore penalty that ...