International Tax Attorney

Columbus International Tax Attorney

What is International Tax?

International tax from a U.S. standpoint involves the U.S. taxation of individuals and entities on their cross-border activity or financial touch points. The U.S. has specialized rules for the taxation of activities outside the U.S. by U.S. taxpayers (outbound taxation) and the business activities and investments in the U.S. made by non-U.S. persons (inbound taxation).

The specialized rules dictate when something is taxable in the U.S. and how to determine the U.S. tax on outside the U.S. Equally important is how the U.S. wants to be notified of those activities and how you are supposed to notify the U.S. of those activities through tax return filings and required financial account reporting.

International taxation and U.S. taxation of cross border activities are specialized areas in the U.S. tax system and are often fairly complex. Careful planning and U.S. tax compliance should be considered whenever there is a cross-border issue.

Why does a taxpayer need to worry about international tax?

The U.S. taxes on U.S people on their worldwide income. Reporting foreign income, reporting foreign bank accounts, assets, businesses, and trusts has increasing become a focus by the IRS over recent years, bringing heightened attention and importance to international tax compliance. Failure to correctly report foreign activities is often met with large monetary penalties whether or not tax is owed. more important and detrimental if not properly reported on tax returns or informational returns. In order to avoid the penalties related to foreign reporting activity, accurate and timely reporting to the U.S. must be done. In the event, filings are late or the taxpayer wasn’t aware there were filing requirements, the advice of an international tax attorney is warranted.

Should I get the advice of an international tax attorney?

Of course, we say, “YES”! The rules around taxation and compliance for these taxpayers are quite challenging.
An international tax attorney at The McGuire Law Firm can assist you with your international tax reporting requirements and related issues.

Our international tax law services include:

Foreign Bank Account Reporting (FBAR) compliance and consulting. Both current and delinquent.
International forms preparation and review (see list below). Both current and delinquent.
Streamline Filing Compliance Procedures related to delinquent filing.
Delinquent International Information Return Submission Procedures (DIIRSP).
Consulting on tax-efficient international structuring.
We consult on inbound (non-US persons with activity in the US) and outbound matters (US persons with activities outside the US). Consultation services include tax-efficient structuring of investments inside and outside the US and related US tax compliance

Preparation and review of US international reporting forms, including:
FBAR
Form 926
Form 965
Form 1042
Form 1042-S
Form 1116
Form 1118
Form 1120-F
Form 2555
Form 5471
Form 5472
Form 5713
Form 8288
Form 8288-B
Form 8621
Form 8802
Form 8804
Form 8805
Form 8813
Form 8832
Form 8833
Form 8854
Form 8858
Form 8865
Form 8938
Form 8990
Form 8992
Form 8993
Form SS-4
Form W-8BEN
Form W-8BEN-E
Form W-8ECI
Form W-8IMY 

The US tax international informational filing obligations are not easy. Always consider the assistance of a qualified professional when making these determinations.

 Call The McGuire Law Firm for additional answers to all of your International Tax Attorney questions at (614) 810-6416.