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.
People and businesses in the U.S. oftentimes receive personal loans from people they know. The loans may be from family or friends, or from a business. Sometimes the loan will be from an individual who lives outside of the U.S. and is not a U.S. citizen, or from a...read more
Back in March, Sciarabba Walker's international tax blog covered a new U.S. revenue stream created by the Tax Cuts and Jobs Act (TCJA) of 2017 - global intangible low-taxed income (GILTI). On June 14th, the IRS issued final regulations providing guidance "to determine...read more
By Linda M. Bruckner, CPA On May 17th, I had the privilege of meeting with my PrimeGlobal international tax colleagues in Chicago to discuss various issues important to our clients. The PrimeGlobal association of independent accounting firms is a worldwide...read more
While most individual U.S. tax returns are due on April 15, U.S. citizens and resident aliens living abroad have a special filing deadline of June 15. Taxpayers qualify for this filing deadline if their tax home and abode are both outside the United States and Puerto...read more
Cryptocurrencies have been in the news a lot recently, mainly because of wide fluctuations in value. Since the meteoric rise and fall of Bitcoin (the most popular cryptocurrency), many people are considering investing in cryptocurrency. There may be foreign reporting...read more
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...read more
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...read more
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...read more
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...read more
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