Effectively Navigating International Taxation Challenges
U.S. citizens with international investments must take appropriate measures to comply with federal tax laws. The federal government closely scrutinizes offshore bank accounts and devotes substantial resources to enforcing compliance with its tax laws. Foreign nationals living and working in the United States potentially face many tax complications as well.
In these and other situations, careful guidance and intelligent counsel from a knowledgeable tax attorney will create significant value. At Goldburd McCone LLP, our Manhattan law firm represents an international clientele, taking on the complete range of international taxation matters for individuals and businesses, including:
- Failure to pay taxes on international accounts
- Foreign bank account report (FBAR) requirements
- Foreign Account Tax Compliance Act (FATCA) matters
- Unreported foreign income and accounts
- Capital gains taxes involving the sale of foreign real estate and investments
- International tax planning/expanded worldwide planning (EWP)
- International tax controversies involving foreign trusts, bank accounts or business ownership
- Foreign tax credits/deductions related to international business transactions
- Tax liability for American business activities abroad
- Declaration of overseas assets in foreign bank accounts
- Global intangible low-taxed income (GILTI)
- Foreign Investment in Real Property Tax Act (FIRPTA)
- Tax obligations for foreign athletes, artists and entertainers working in the United States
- Subjugation for international business activities within the United States or those who receive income from American sources
Whatever your tax needs, we will provide effective, candid representation aimed at minimizing your overall tax burden while complying with all applicable regulations.
Protecting Your Rights And Your Foreign Investments
Many taxpayers are surprised to learn that the federal government has vast powers to collect taxes on overseas accounts. FATCA requires foreign banks to identify U.S. citizens and residents who have accounts totaling more than $50,000. Furthermore, under FBAR, any U.S. taxpayer with overseas holdings totaling more than $10,000 at any point in a given year must file a report with the government.
While these laws can make foreign investment cumbersome, businesses and individuals can still use foreign accounts for their investments with careful planning. Our lawyers have full command of these issues and can develop innovative, ethical strategies that help you achieve your goals. If the government claims that you have not reported foreign accounts or have failed to pay taxes on foreign accounts, we will be prepared to take decisive action on your behalf.
Schedule A Free Case Evaluation
Call our New York law firm at 212-235-1817 or complete our online form to begin.