PRE-IMMIGRATION AND EXPATRIATION PLANNING
IWTA assists clients planning to become U.S. taxpayers as well as those terminating their citizen or green card status. We help mitigate the substantial taxes that can result from these decisions.
If you’re a non-resident alien, have business activities or holdings in the U.S., or just visit a lot, Uncle Sam doesn’t need to wait until you seek permanent status to collect taxes. Lack of understanding of the rules can be costly.
If you’re a U.S. citizen or resident alien that has decided to expatriate,Uncle Sam has a parting gift: exit tax. Expatriation is a complicated affair. Before you make this life-changing decision, be aware of all the rules and consequences. Click below for an overview and learn how IWTA can help.
Get the peace of mind that comes with putting your U.S. business and investment tax affairs in our hands!
Read Expert Tips and Coverage of News & Laws
It is evident that the Covid economy has only intensified the thirst of investors, entrepreneurs and increasingly, average citizens, for an economic model that more seamlessly marries with life-in-the-digital-lane. This article updats the shifting landscape of cryptocurrency, banking and finance and taxes. The future is here and traditional banking must ride the cryptocurrency blockchain or go the way of the abacus.
The U.S. Congress designed the Foreign Investment in Real Property Tax Act (FIRPTA) to collect tax on the sale of a U.S. property by a foreign person or business entity in order to ensure that foreign persons and entities paid tax on their U.S. source (situated) income (i.e., extract a type of capital gains tax that would normally not apply). Looking to boost tax revenues in a tough year of the Covid-19 pandemic, on On October 5th and Sept. 14. 2020, the IRS Large Business & International Division (LB&I) issued notices regarding their resumption of a FIRPTA enforcement campaign.
Last month, on July 9, to be exact, the U.S. Treasury Department and the IRS officially rolled out final regulations under IRS tax code Section 250, providing updated guidance on the deduction for foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI).