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.
IRS to the Rescue: Form 2350
U.S. citizens and permanent residents who reside outside the United States can find themselves facing reporting and tax filing requirements that often seem daunting. Fortunately, the IRS has provided ways to make life just a little bit easier for these individuals....
Foreign-Owned Disregarded Entities: Really, Another Reporting Requirement?
Foreign persons utilize U.S. disregarded entities for a variety of reasons: for limited liability protection, as a holding vehicle for business conducted entirely outside the United States, to shield certain activities and owners from disclosure, or simply to make it...
Legislative Alert: House Passes Tax Bill
The U.S. House of Representatives has just passed the Tax Cuts and Jobs Act bill, H.R. 1, by a margin of 22 votes. The Senate Finance Committee is still working on its own version of the Tax Cuts and Jobs Act. There has been a lot of talk on national media about...
The Disappearing ITIN
For individuals with U.S. tax filing obligations who are not eligible for a Social Security Number, the IRS issues a similar number called an Individual Taxpayer Identification Number (ITIN). ITINs are distinguished from Social Security Numbers in that they begin with...
Why Should Your Business Care About International Tax Issues?
This article originally appeared in the Central New York Business Journal on September 29, 2017. Taxes are neither sexy nor exciting, except perhaps to us CPAs who seem to thrive on the nuances of the tax code. But taxes are a critical factor in your business,...
Eight “Scary” Types of IRS Notices, Rated in Pumpkins
Boo! That’s pretty scary, but you’re probably much expecting some scares this time of year. IRS notice! Now that’s even scarier. An IRS notice can sneak up on you and be a big, scary surprise. Before you run off screaming, though, let’s look at some of the different...
PrimeGlobal Links Sciarabba Walker to an International Network of Resources
Sciarabba Walker developed its International Tax Group after recognizing a need for advanced international tax services in our community. In an increasingly global economy, and with the myriad complex tax filing requirements, the need for a specialized practice group...
Filing Taxes for a Dual Status Year
A dual status year describes the tax year when a foreign individual is a part-year U.S. resident taxpayer. This commonly occurs when a person comes to the United States and becomes a resident during the year or when someone leaves the United States and becomes a...
When Does a Nonresident Alien Need to File a 1040NR?
When does a nonresident alien need to file a 1040NR, U.S. Nonresident Alien Income Tax Return? When might a nonresident alien want to elect to be taxed as a resident alien and file a Form 1040 instead? This week we’ll look into these questions regarding nonresident...
Form 1040NR: When Is Income Considered U.S. Sourced?
U.S. citizens and resident aliens use Form 1040 (or a shorter variation of this form) to report their worldwide income for tax purposes. Nonresident aliens, however, use Form 1040NR to report U.S. source income and calculate any taxes due to the United States. There...