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.
The following is an excerpt from an April 9, 2018, news release from the IRS: The Internal Revenue Service today reminded U.S. citizens and resident aliens, including those with dual citizenship, to check if they have a U.S. tax liability and a filing requirement. At...read more
For the past few weeks we explored the regulations on Passive Foreign Investment Companies (PFICs), discussed how they are taxed, and examined how certain rules determine ownership and affect reporting requirements. In this post we will discuss the tax impact of...read more
The IRS recently provided guidance for taxpayers affected by Section 965 of the Internal Revenue Code. In general, Section 965 requires U.S. shareholders to pay a transition tax on the untaxed foreign earnings of certain foreign corporations as if those earnings had...read more
The Internal Revenue Service (IRS) recently announced that the 2014 Offshore Voluntary Disclosure Program (OVDP) will end on September 28, 2018. The advance notice is intended to give U.S. taxpayers with undisclosed foreign financial assets enough time to use the OVDP...read more
In the previous posts we introduced the passive foreign investment company (PFIC) rules and discussed how they are treated for taxation purposes. We touched on how to determine if a fund is a PFIC and the most common type of PFIC. In this post we'll describe the...read more
In our last post we introduced the complex international tax issues of passive foreign investment companies (PFICs) and gave a brief background on the regulations. In this blog post we'll briefly discuss the various methods of taxation and how to make certain...read more
Most tax issues can be difficult to navigate and understand; however, there is one set of regulations in particular that is especially complex. In the realm of international tax issues are the passive foreign investment company (PFIC) regulations, which came about as...read more
For the past few weeks, we have been looking at foreign account reporting requirements as they relate to the FBAR and Form 8938. This week, we will look at our final example: the fictional case of Susan, a professor who taught in Australia. Susan is single and a U.S....read more
Recently on our International Tax Blog we have been discussing foreign account reporting requirements as they relate to the FBAR and Form 8938. This week, we will look at the fictional case of Lauren, who enjoys investing in foreign stocks. Lauren is an unmarried U.S....read more
Last week we discussed two forms that may need to be filed if you have foreign accounts. This week, we will look at the fictional case of Steve and Marie, married U.S. citizens who live in the United States but travel to Canada regularly. Steve and Marie love to...read more