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.
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...read more
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...read more
At the end of each year, the IRS adjusts certain tax items to account for inflation. The 2019 inflation adjustments were recently announced for more than 60 tax items. Of those, here are some of the adjustments related to international tax items: Inflation Adjustments...read more
The Tax Cuts and Jobs Act (TCJA) includes sweeping changes to international tax law. In light of these changes, the IRS is working on adding and updating tax forms and schedules to reflect the new provisions of the TCJA. Some of the forms have been released as drafts...read more
U.S. taxpayers are not always aware that they must report their foreign accounts on an Foreign Bank Account Report (FBAR) in accordance with Foreign Account Tax Compliance Act (FATCA) requirements. If the taxpayer has reported all income (or did not have enough income...read more
When U.S. citizens or permanent residents live abroad, they don’t always realize that they are subject to U.S. tax filing requirements. To illustrate how this works, we will examine the fictional case of Noah, a dual Australian/U.S. citizen who has lived in Australia...read more
When paying income taxes, individuals often assume they are only required to pay taxes to the country where they are living. However, under U.S. law, U.S. citizens and U.S. residents must file U.S. tax returns and report their worldwide income regardless of where they...read more
Most people think of jack-o-lanterns, graveyards, or frightful costumes when they think of scary Halloween things. In the tax world, sure, we think all of those are scary, but we also think some very scary tax and IRS situations are worth screaming about, too! So, in...read more
The IRS issues Individual Taxpayer Identification Numbers (ITINs) to individuals who are required to have a U.S. taxpayer identification number but who do not have (and are not eligible to obtain) a Social Security number. Certain ITINs expire at the end of each year,...read more
In a previous blog post, we discussed some of the tax options available when a U.S. taxpayer goes overseas for employment. A popular option is to use the Foreign Earned Income Exclusion (FEIE). The FEIE is especially useful now that the Tax Cuts and Jobs Act (TCJA)...read more