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
IRC 1473(4) and 1.1473-1(d), define a withholding agent as any person in whatever capacity having control, receipt, custody, disposal, or payment of any item of income of a foreign person that is subject to withholding. In the eyes of the U.S. federal tax authorities, a person is considered to have custody of, or control over a distribution of funds or income, if a person is the one who ultimately has the authority to release the funds or income. If such person does not properly withhold the correct amount of tax they will be subject to pay the tax not withheld.
The Foreign Account Tax Compliance Tax Act (FATCA) became law in 2010 and is a major development in the taxation of Americans living abroad. FATCA is a tax law that requires U.S. citizens at home and outside of the United States (U.S.) to file annual reports on any foreign account holdings. FATCA is intended to prevent tax evasion by U.S. citizens and residents via the use of offshore accounts.
International Tax experts view digital tax as one of the “hotbutton” issues of the new decade.