International taxation is one of the most complex areas of the tax code. Our international taxation services includes tax compliance and planning for residents doing business abroad, foreign aliens doing business in the US, foreign entities doing business in the US and domestic entities doing business abroad.
International Tax Compliance
A lot of foreign tax compliance issues can arise when dealing with international taxation. Our experience and knowledge of international taxation will help your organization minimize the effects of double taxation and reduce your global tax rate. Taieb & Associates will advise you and guide you through every step of the process.We will assist you with:
- Withholding and reporting of payments to foreign individuals and entities
- Preparing Form 1042 tax return and 1042-S reporting forms
- Preparing individual tax returns for non-resident aliens
- Preparing individual tax returns for US expatriates
- Preparing 5471 tax forms if you have investments in controlled foreign corporations or if you are subject to the Subpart F income rules.
- Preparing tax returns for US entities with foreign partners or shareholders.
- Preparing tax returns for US based entities operating abroad.
International Tax PlanningWe provide the following international tax planning services:
- Expatriate tax planning
- Foreign & alien tax planning
- International tax structuring
- Transfer pricing planning
- International tax treaty analysis and filing
- Overall international tax planning
Foreign Bank Account Report Compliance
The form TD F 90-22.1 (“Report of Foreign Bank and Financial Accounts” or “FBAR”) has always been a hot topic among both the IRS and tax practitioners. This form was significantly revised in late 2008 to increase reporting requirements for companies and individuals having foreign assets and income. The new rules include hefty penalties (up to $10,000) for failing to file this form on a yearly basis (deadline is generally June 30th). While FBAR reporting requirements have been in place since 1970, significant revisions to the form and associated penalties for non-compliance have garnered the attention of many taxpayers and practitioners over the last six months. Taieb& Associates can assist you in becoming compliant with regard to your foreign bank account reporting and work with you regarding the Voluntary Disclosure Program.