Posted by Sue Tuson on September 9, 2019
Long-awaited treaty protocols, signed in 2013, were finally ratified in July 2019. The protocol with Japan entered into force on August 30, 2019, provides amendments to the 2003 tax treaty. The protocol with Spain is due to enter into force on November 27, 2019, and provides for the amendments to the 1990 treaty.
The IRS continues to increase scrutiny of the reporting requirements applicable to foreign persons and U.S. companies with foreign transactions. It is important to fully understand these U.S. obligations because failure to report...
Posted by Sue Tuson on July 18, 2019
Thinking of expanding your business overseas? The first question is usually, “What’s the best way to start? Should I set up an office immediately or use an independent contractor familiar with the country?”
Posted by Sue Tuson on July 2, 2019
The 2017 Tax Cuts and Jobs Act (TCJA) has made C-Corporation status much more attractive to business owners, and the 21% flat tax rate has caused many to consider whether converting to a C-Corporation may be worth the switch.
Posted by Sue Tuson on May 15, 2018
The US Department of Commerce Bureau of Economic Analysis (BEA) has issued a mandatory survey of select services and intellectual property transactions with foreign persons.
Posted by Sue Tuson on April 24, 2018
The Tax Cuts and Jobs Act created a deduction for Foreign-Derived Intangible Income (FDII). The name of this deduction is misleading, it is actually a deduction against qualifying export income after a routine rate of return.
Posted by Sue Tuson on February 2, 2018
When a taxpayer is notified by the IRS for a tax return audit, the first reaction may be panic or fear. Understanding the audit process …
Posted by Sue Tuson on January 31, 2018
This time of year businesses are busy preparing year-end information returns, including W-2s and 1099s. Often overlooked are the rules regarding withholding and information reporting …
Posted by Sue Tuson on September 8, 2017
The IRS and state governments continue to increase requirements and penalties for information reporting. With these increases, using best practices when keeping records is …
Posted by Sue Tuson on May 25, 2017
The IRS announced 13 audit campaigns last March. Included in the campaign is an effort to increase voluntary compliance for Form 1120-F Non-Filers. Form …