Mar 26, 2019 | Firm Updates, International Tax
This article was originally published in the Central New York Business Journal. Congress passes the tax laws, the Treasury Department collects the tax revenues, and the IRS oversees the reporting and collection process. The Tax Cuts and Jobs Act (TCJA) of 2017 added a...
Mar 14, 2019 | Firm Updates, International Tax
We recently posted a blog about foreign derived intangible income (FDII), a new deduction for certain domestic corporations. Since then, the IRS has issued proposed regulations for FDII under Section 250 of the Internal Revenue Code. According to the IRS, “The...
Mar 7, 2019 | Firm Updates, International Tax
International tax forms sometimes have separate due dates that do not coincide with the most well-known deadline, April 15. It is important to be aware of these other due dates, as they can carry substantial late filing penalties. Here are a few international-related...
Feb 25, 2019 | Firm Updates, International Tax
This article was originally published in the Central New York Business Journal. The Tax Cuts and Jobs Act of 2017 added many new acronyms to tax advisers’ vocabularies. A few of the new acronyms in the international arena are GILTI, FDII, BEAT, DEI, and QBAI. Some of...
Feb 18, 2019 | Firm Updates, International Tax
We often work with clients who are not familiar with the U.S. tax system but for various reasons are required to file U.S. income tax returns. Last week we provided a general overview of how income taxes work in the United States, as the process differs from tax...
Feb 11, 2019 | Firm Updates, International Tax
Most countries have a tax system in place to pay for national needs and government services, but the methods and rules vary greatly from country to country. The United States handles income taxes in a very specific way—one that might be unfamiliar to those who are not...
