International Tax Blog
Welcome to the Sciarabba Walker International Tax Blog! We will be sharing original, informative, engaging content that examines a variety of international tax issues as they relate to individuals and businesses. Our International Tax Group stays up to date on the latest rules and regulations that affect our international tax clients. We are committed to assisting our clients on tax reporting issues related to the ownership of foreign assets, receipt of income from abroad, foreign financial transactions, and more.
Check out our blog for helpful tips, analysis, and examples of the issues that affect clients and how we are able to assist. And feel free to reach out to us anytime—we are here to help.
Disclaimer: The information in these blog posts is provided for general informational purposes only and is not intended to substitute for accounting, tax, or financial advice from a professional accountant. While we use reasonable efforts to furnish accurate and up-to-date information, we do not warrant that any information contained in or made available through this blog is current or error free. No part of this communication is intended to be used for the purpose of avoiding penalties under U.S. federal tax law.
Taxpayers are sometimes unaware they have a foreign filing requirement. In this blog post, we will look at an example in which the client was the beneficiary of a retirement account that was considered a foreign financial asset, even though he had never worked outside...read more
Sometimes taxpayers are unaware that they have foreign reporting requirements. When discovered, they may need to catch up. In this blog, we will look at the hypothetical story of Antoine, a French citizen, living in the United States for more than 20 years. Antoine...read more
The United States has income tax treaties with many different countries. These treaties allow for various forms of tax relief or exemption from tax for U.S. citizens and permanent residents. Some examples of treaty benefits are reduced tax rates, exemption from U.S....read more
The IRS recently announced that it will waive certain late-payment penalties related to the Section 965 transition tax. In addition, the IRS provided additional guidance for individuals subject to the Section 965 transition tax regarding the due date for relevant...read more
In a previous post, "What Happens When a Professor Goes Overseas on Sabbatical?", we discussed an example of a professor on sabbatical and looked at two options available to her: 1) use the foreign earned income exclusion, or 2) report all income as taxable and deduct...read more
The United States has almost 70 tax treaties with foreign countries covering income taxes and capital gains tax. These treaties delineate which country is entitled to tax an individual or entity in cross-border situations. But income taxes are only part of the tax...read more
As we have discussed in previous posts, while owning a foreign subsidiary has its advantages, it also presents complicated tax issues. We've analyzed the fictional relationship of U.S. Parent and foreign Sub and discussed the check the box rules, transfer pricing...read more
As mentioned in our previous posts, there are several U.S. tax reporting requirements for our fictional U.S. company “Parent” once it acquires our fictional foreign subsidiary “Sub.” As we discussed in our first post in this series, one of the Parent’s options is to...read more
In our previous post we discussed the initial considerations that fictional U.S. company “Parent” need to make after acquiring fiction subsidiary “Sub.” After the initial considerations are made and Sub is up and operating, the pricing of intercompany transactions...read more
As a business grows and becomes increasingly involved in different markets, having ownership of a company in a different country can provide many advantages. Ownership of a foreign subsidiary can be a great way for a U.S. business to expand into overseas markets and...read more