The international tax laws are extremely complex, carry heavy penalties, and affect more people than you may think.
They apply not only to businesses doing business overseas but also to individuals with foreign assets including bank accounts, foreign retirement plans and indirect interests in foreign companies just to name a few.
Even if you have no foreign income to report the failure to not disclose (even if no tax effect) carry penalties that start at a minimum of $10,000/year.
Nicholas Evans has been involved in international tax transactions since his very first year in public accounting and each successive year there after.
We can assist with the following:
- FBAR Filings (foreign bank account reporting)
- The new reporting requirements with regards to Specified Foreign Assets
- Expatriate tax returns
- US subsidiaries of foreign entities and US branches in foreign countries
- Reporting/disclosure of interests in foreign corporations
In addition we can assist with getting into compliance and mitigating penalties associated with prior year non-disclosures.