Category: International Tax

International Tax

Upcoming Tax Reporting Deadlines for Non-U.S. Persons by Andrew Leonard, CPA


Posted on March 30, 2022 by Andrew Leonard

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, […]

IRS Suspends Mailings of Some Tax Collection, Delinquent Return Notices by Arthur Dichter, JD, LLM


Posted on March 21, 2022 by Arthur Dichter

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 […]

Time is Running Out for Taxpayers to Renew ITINs by Marielys Rosado, CPA, JD, LLM


Posted on March 09, 2022 by Marielys Rosado

The deadline is approaching for certain non-U.S. persons with U.S. income tax-reporting obligations to renew the Individual Taxpayer Identification Numbers (ITINs) issued to them by the Internal Revenue Service (IRS). Failure to do so in a timely manner can result in significant delays in the processing of individuals’ federal tax returns and any related refunds […]

Biden Unveils Tax Proposal to Pay for New Jobs Plan by Timothy Larson, CPA


Posted on May 20, 2021 by Timothy Larson

At the center of President Biden’s plan to rebuild the country’s infrastructure, create jobs and increase production of clean energy is a proposal to raise $2.3 trillion over 15 years, in large part, by increasing the corporate tax rate and reforming the international tax system. According to the administration, the Tax Cuts and Jobs Act […]

Law Unmasking Anonymous U.S. Companies May Require New Tax Planning for Foreign Investors in U.S. Entities by Arthur J. Dichter, JD, LLM


Posted on May 14, 2021 by Arthur Dichter

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. […]

Final Regulations Applying the High-Tax Exclusion to Global Intangible Low-Taxed Income by Timothy Larson, CPA


Posted on September 17, 2020 by Timothy Larson

The IRS recently issued final and proposed regulations relating to the treatment of “high-taxed” global intangible low-taxed income (GILTI), introduced in 2017 by the Tax Cuts and Jobs Act (TCJA). This latest guidance is welcome news to many U.S. investors, who may now make annual elections to exclude high-taxed GILTI from their gross income — […]

Nonresident Aliens, Foreign Businesses, U.S. Expats May Receive Relief from U.S. Tax Problems Arising from COVID-19 by Arthur Dichter, JD, LLM


Posted on April 30, 2020 by Arthur Dichter

The IRS has issued a series of guidance providing relief for nonresident alien individuals, foreign businesses and U.S. expats living and working abroad who may be adversely affected by the COVID-19 international travel restrictions and forced to prolong their stays in the United States. In general, individuals who meet U.S. residency tests are considered resident […]