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.
U.S Nonresident Aliens: Why U.S. Estate Taxes May Still Be an Issue
On our International Tax Blog, we have been discussing two fictional taxpayers, John and Sue Ling, who have resided in the United States for many years. They have been working with their CPA and attorney on their estate plans. John is a U.S. citizen but Sue is not,...
Estate Planning for Noncitizen Spouses: Special Considerations
Last week we discussed the international tax situation of John and Sue Ling, a hypothetical couple from Taiwan that has been residing in the United States for many years. John is a U.S. citizen but Sue is not, although she is a permanent U.S. resident (or green card...
An International Family: Receiving and Bequeathing Cross-Border
Today we will explore the fictional case of John and Sue Ling to demonstrate some of the factors affecting international estate planning. John and Sue came to the United States from Taiwan 30 years ago when John was hired as an engineering professor at a local...
Estate Planning in the International Arena
If you have ever sat down with your attorney or CPA to discuss estate issues, you know that estate planning involves a lot of decision making on your part. Estate planning professionals seem to have a never-ending list of options to choose from: revocable trusts,...
Delinquent International Information Return Submission Procedure: Caught by Surprise
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...
Streamlined Procedures – Domestic Offshore: Nostalgic for Home
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...
Form 6166 – How to Ensure You’re Benefitting from Tax Treaties
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....
Update: IRS Offers Penalty and Filing Relief Related to Section 965 Transition Tax
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...
Update: TCJA Affects Reporting Options for Professors on Sabbatical Overseas
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...
Totalization Agreements: Avoiding Dual Taxation When Working Abroad
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...