Are You an Accidental American?
Brandi Samuel
Doing business abroad can bring opportunities for new revenue streams, but U.S. and foreign nationals face a complicated line of changing regulations, tax implications and compliance issues when participating in a global economy. Serving clients in 70+ countries, our international tax experts specialize in global tax planning, structuring and consulting to ensure you maintain compliance with domestic and international tax laws. Windham Brannon is also a member of Abacus and AGN International, meaning we have access to extensive resources around the globe.
When you need a qualified advisor to help you reduce your global tax burden and optimize your strategy for compliance and growth, Windham Brannon can create comprehensive tax planning and compliance measures that are personalized to meet your needs. Our international tax practice can help you manage your corporate earnings compliance with Global Intangible Low Tax Income (GILTI) and Foreign Account Tax Compliance Act (FACTA), and we help companies coordinate the management of foreign and U.S. tax benefits for expatriate employees.
If your business resells or exports U.S.-produced goods to foreign locales, you can benefit from an Interest Charge Domestic International Sales Corporation (IC-DISC). Windham Brannon can manage the establishment and compliance of IC-DISC for businesses and shareholders doing business overseas, helping to defer income recognition for foreign sales and reduce the taxable income for corporation shareholders.
When your business engages in intercompany transactions and cross-border sales, Windham Brannon can help you coordinate multi-country tax planning and assistance with global transfer pricing. No matter which country the tax liability may be, we develop plans and perform due diligence for cross-border sales and structuring focused on tax-efficient profit repatriation.
If you purchase real estate from a foreign person, you may be required to withhold a certain amount from the sale according to the Foreign Investment in Real Property Tax Act (FIRPTA). In some cases, this withholding amount may be adjusted by the Internal Revenue Service (IRS). Windham Brannon can help you with your FIRPTA withholding certificate application to help you remain compliant and potentially reduce your risk of paying more in tax withholdings. Get started by downloading our FIRPTA Withholding Questionnaire, and our team will follow up regarding your needs.
Accidental Americans are individuals deemed to be a U.S. citizen but who have little tangible connection to the United States, which taxes citizens on a worldwide basis rather than a territorial basis. Accidental Americans face unique challenges with U.S. tax compliance, including the avoidance of potential penalties and interest. Windham Brannon’s international tax experts can help you determine your filing requirements and navigate the nuances of your tax situation as an American living abroad.
Are You an Accidental American?
Brandi Samuel
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