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We're here to give the professional expertise and peace of mind to make tax time less stressful. We are committed to your needs as expats, and we never stop learning, exploring, and staying proactive on the latest tax news that affects you.

NEW IRS COMPLIANCE CAMPAIGN FOCUSES ON DEFERRED FOREIGN INCOME

The IRS has just announced its newest compliance campaign – focusing on transition tax compliance for foreign company owners. The new campaign will home in on whether a company’s “deferred foreign income” was correctly determined for purposes of applying the transition tax.

TRANSITION TAX RATES

We review the basics of the transition tax and its calculation and demonstrate why the transition tax rate should increase next year.

DEADLINE FOR TRANSITION TAX

We provide a brief overview of the transition tax and its relevant provisions for U.S. expats owning foreign companies, and we describe the taxpayer-friendly amendments to the deadline rules.

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