International Reporting – Are You In Compliance?

U.S. Taxpayers, including individuals, companies, trusts, and estates that have delinquent, incomplete or late-filed foreign information returns have significant penalty exposure. Forms 5471, 8865, or 8858 may need to be filed if the U.S. taxpayer has a direct or indirect interest in a foreign corporation, foreign partnership, or foreign disregarded

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The Ins and Outs of Cross-Border Taxation

Understanding Outbound Transactions Cross-border taxation can be divided into various categories based on the type of the transaction, with the highest division being “Inbound vs. Outbound.” Inbound refers to non-U.S. persons (and in this case, “persons” meaning both individuals as well as entities) having U.S. income. Outbound is the opposite,

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New Rules to Take Deduction on Foreign Income

Proposed regulations on Foreign Derived Intangible Income (FDII) were released earlier in 2019. One of the main highlights to these proposed regulations was the new strict documentation rules. For a brief recap on the release, and to learn when a C-corporation can benefit from the FDII deduction due to revenue

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