Expatriates and Foreign Nationals
International CPA Group works closely with Foreign Nationals and their employers to ensure that the Expatriates receive the best advise to minimize their U.S. tax exposure, reporting all sources of income properly and always staying in compliance with U.S. tax laws and required disclosures.
Our firm recognizes that working outside your native country can create challenges and opportunities. We make global mobility easier to navigate and manage tax laws and financial structures.
The opportunity to work abroad creates tax and financial issues, including
Non-resident tax return filings
Reporting of foreign accounts and assets
Return filing deadlines
International tax planning
Estate planning for assets in US and abroad
Determining Resident Status
The requirements for filing as a U.S. resident are determined by the number of days in the country, visa status and employment contract. For foreign national who are living and working in the U.S., their tax situation is unique. There are complex requirements for issues like investment income received from other countries and foreign bank account reporting. Establishing your tax position with U.S. residency requires tax and asset planning. Our firm specializes in international tax issues.
Some of the questions in determining resident status include:
Do I file a resident or non-resident return?
What are the tax issues regarding foreign rental income?
If I have a partial year in the U.S., do I report income from my home country?
Do I need to report my foreign asset under FATCA?
Do I need to file a FinCEN Report 114?