In this episode, Director of Tax Services Pedro Porras, CPA, explains the changes in the OBBB that will impact international citizens, companies and taxpayers.
The One Big Beautiful Bill Act (OBBBA) modifies several international tax laws introduced in 2017 by the Tax Cuts and Jobs Act (TCJA), including a decrease in deductions and changes to the names of the Global Intangible Low-Taxed Income (GILTI) and Foreign-Derived Intangible Income (FDII) regimes. The following provisions are scheduled to take effect for […]
In this episode, Director of Tax Services Mike Greenwald, CPA, shares information about the OBBB and why planning is so important. To attend the July 31 webinar, register here.
In this episode Associate Director of Assurance and Advisory Services Mikel Gastaminsa, CPA, shares the basics of IFRS, what multi-national companies need to look out for and strategies for staying in compliance.
In this episode Associate Director of Tax Services Joel Young, JD, LLM, shares an overview of FIRPTA, the goals of the program and who might make a misstep.
Criminals are constantly developing new and more elaborate ways to deceive taxpayers, steal their identities and cheat them out of their hard-earned financial assets. To help protect yourself from becoming a victim of these crimes, the IRS annually publishes a list of the “Dirty Dozen” most common schemes and scams for which you should be […]
U.S. persons, businesses, trusts and estates with 10 percent or more ownership interest or voting control over a foreign business enterprise in fiscal year 2024 have a quinquennial requirement to file a Bureau of Economic Analysis (BEA) Forms BE-10 by May 30 or June 30, 2025, depending on the number of forms they must file. […]
With the complexity of the U.S. tax code, foreign persons may inadvertently trigger a withholding tax on the sale or disposition of U.S. real estate even when they are party to an otherwise tax-free reorganization. It is important for foreign individuals to understand the nuances of the Foreign Investment in Real Property Act (FIRPTA) and […]
Following are the annual inflation adjustments to various provisions of the tax code, which you will use when you file your 2025 federal income tax returns in 2026. Marginal Income Tax Rates Seven tax rates apply to income individuals earn in 2025. 37% for income greater than $626,350 ($751,600 for married couples filing jointly) 35% […]
One of the more challenging tax reporting requirements for multinational businesses is the translation of gains and losses of their foreign branch offices and qualified business units (QBUs) into their home country’s functional currency. This process is often complicated by exchange rate fluctuations, including currency devaluations, that can have a material impact on the principal […]