Historically, businesses hoping to avoid paying certain taxes or reporting specific assets might have used international operations and banking as a means of minimizing their liabilities. However, as countries around the world began adopting the Common Reporting...
Tax Law And Litigation Services For Businesses And Individuals
Year: 2022
Voluntary disclosure helps those with unreported foreign income
The Internal Revenue Service (IRS) collects estimated income tax payments made on behalf of their employees, as well as quarterly payments from independent contractors. Every year, the IRS processes millions of income tax returns and flags a few of them for audits....
Can you protect yourself if your spouse filed your joint taxes?
Getting married often leads to spouses sharing everything, from a house and financial accounts to their income tax return each year. When you got married, you may have gratefully handed over your tax filing obligations to your spouse, who promised you that they would...
Do you have to report foreign earned income?
Sometimes, when you work in more than one country, you’ll have earnings from both. Depending on the tax laws of the countries you’re working with, you may believe that you only have to file in the foreign country and not the United States. The truth is that if you are...
International expansion can help your company reduce taxes
A growing business with consistent demand for the goods or services it provides will also have increased operational expenses. Buying more supplies and paying for more labor will be part of increasing the scope of operations. Eventually, the company may even need new...