International Tax

Trends in International Tax Reporting, Failure to File Penalties by Joel G. Young, JD, LLM

Posted on May 02, 2023 by Joel Young

U.S. tax law requires taxpayers to annually report many of their cross-border activities, including the existence of foreign bank accounts, interests in foreign companies and large gifts from foreign persons. While most of these reports are merely informational and have no bearing on taxpayers’ actual U.S. tax liabilities, failing to file the appropriate forms or […]

Understanding Foreign Trusts and Their Tax Treatment in the U.S. by Pedro L. Porras, CPA

Posted on January 25, 2023 by Pedro Porras

In a global society where business and family affairs are conducted regularly across international borders, it is very easy for individuals’ activities to fall unintentionally under the taxing authority of another country. This is especially true when it comes to foreign persons making gifts and passing inheritances to heirs located in the U.S. With a […]

Tax Efficient Pre-Immigration Planning Takes Time by Magda Szabo, CPA, JD, LLM

Posted on January 10, 2023 by Magda Szabo

The United States continues to be a destination for foreign citizens to invest their assets, conduct business and, in many cases, make their permanent home. Those individuals seeking U.S. residency often find the path to citizenship lined with a wealth of opportunities, a broad range of new responsibilities and costly liabilities, including U.S. income tax, […]

Podcast – BPB Knows Gift Planning for International Families

Posted on December 15, 2022 by Lewis Kevelson

In this episode international tax advisor Lewis Kevelson shares tips and traps for international families with US assets.

Answers to Frequently Asked FATCA Reporting Questions by James W. Spencer, CPA

Posted on November 14, 2022 by Jim Spencer

The U.S. government first enacted the Foreign Account Tax Compliance Act (FATCA) over a decade ago to combat the global issue of tax evasion and make it more difficult for individuals and businesses to hide assets offshore and outside the purview of U.S. tax authorities. While foreign financial institutions bear much of the responsibility for […]

Can Foreign Investors be in the U.S. without Being Here for Income Tax Purposes? by Joel G. Young, JD, LLM

Posted on November 08, 2022 by Joel Young

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 […]

Podcast – BPB Knows Cross-Border M&A Transactions

Posted on November 03, 2022

In this episode Associate Director of Tax Services Tony Huber explains some of the nuances of international mergers and acquisitions.

Pre-Immigration Planning: Understanding U.S. Income Tax Residency Status by Pedro L. Porras, CPA

Posted on October 13, 2022 by Pedro Porras

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 […]

IRS Offers Penalty Relief for Certain Qualifying Taxpayers by Arthur Dichter, JD, LLM

Posted on August 30, 2022 by Arthur Dichter

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, […]

Podcast – BPB Knows Pre-Immigration Tax Planning

Posted on August 18, 2022 by Lewis Kevelson

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.

Category: International Tax