International Tax Matters
The United States generally taxes citizens and resident aliens on income earned in a foreign country. The U.S. also requires reporting of certain foreign financial assets. Failing to comply with these strict requirements can result in civil penalties and willful failure can result in criminal prosecution.
Our team is experienced with resolving federal tax matters involving foreign income/assets and can help you navigate this complex regulatory environment. We have assisted taxpayers with voluntary disclosures, audits, and other civil penalty assessments related to foreign income/assets in dozens of countries, including:
China, Brazil, Colombia, Mexico, Egypt, Israel, Trinidad and Tobago, Jordan, Germany, Switzerland, United Kingdom, Spain, Australia, and Canada.
We are committed to delivering results for our clients. We invite you to review a sample of international tax matters that we have resolved for our clients. All cases are different and the summaries below should not be interpreted as a prediction or guarantee of success or specific results.
- Streamlined Domestic Offshore Procedures
Client, a U.S. citizen, failed to report foreign income and foreign financial assets (bank accounts, securities) on their U.S. tax returns. DeWitt Law represented Client before the IRS and filed amended returns and FBARs through the IRS streamlined domestic offshore procedures. Client paid a 5% penalty on the highest aggregate value of their foreign financial assets and reached full compliance with the IRS.
- Acquisition of U.S. Property by Non-U.S. Citizen
Client, a non-U.S. citizen, sought to acquire real property located in the U.S. DeWitt Law assisted Client with compliance under U.S. tax law by properly reporting the transaction.
- Beneficiary of Foreign Inheritance
Client, a U.S. citizen, inherited substantial foreign assets. DeWitt Law assisted Client with compliance under U.S. tax law by properly reporting the inheritance and submitting necessary tax filings.
Contact a Tax Attorney
Tyler H. DeWitt, Esq., CPA
Available for consultation