International Commerce Group Archives

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Introduction of UAE Federal Corporate Income Tax

Long considered a “no tax” jurisdiction, on January 31, 2022, the Ministry of Finance announced that the United Arab Emirates…

Deepika IyerMay 5, 2022

Articles Business Tax International Commerce Group International Tax Tax Services

Tax Alert: Sch K-2 and K-3 – IRS Provides Additional Transition Relief for Certain Partnerships and S corporations

On February 16th, 2022, the IRS updated its FAQs relating to Schedules K-2 and K-3. The objective of this update…

Robert EwanisFebruary 17, 2022

Articles International Commerce Group International Tax

The Implications of Failing to Report Foreign Assets to the IRS

Since 1970, U.S. residents and citizens who maintained bank accounts in foreign countries have been required to disclose these holdings…

Lina LadekarlJanuary 31, 2022

Articles International Commerce Group International Tax

The Art of Receiving Foreign Gifts

One of the outcomes of globalization is dispersed families. Millions of American citizens and residents have close family members that…

Lina LadekarlDecember 8, 2021

Articles International Commerce Group International Tax

Dual Citizenship –Twice as Good?

One, rather unexpected, consequence of the pandemic is the increased interest in dual citizenship. A recent article in The New…

Lina LadekarlFebruary 15, 2021

Articles COVID-19 International Commerce Group International Tax

Latest Paycheck Protection Program (PPP2) adds Restrictions to China and Hong Kong Affiliated Businesses

The Consolidated Appropriations Act of 2021 (“CAA”) that was passed into law contains important changes to the Paycheck Protection Program…

Darko NaumoskiJanuary 12, 2021

Articles International Commerce Group International Tax

The Complexities of a Breakup – is it Easy for Green Card Holders to Leave the United States?

Renouncing a citizenship is a major decision with serious financial, social, and emotional consequences. For United States citizens, this decision…

Lina LadekarlDecember 21, 2020

Articles COVID-19 International Commerce Group International Tax

IRS revises Form 2555 due to COVID-19

The IRS recently released the 2020 version for Form 2555, Foreign Earned Income. This form is used by Americans living…

Robert EwanisDecember 7, 2020

Articles International Commerce Group International Tax Tax Talks Blog

Death & FBAR Reporting Requirements – A Costly Lesson

A recent district court case* against the estate of a deceased taxpayer has ruled in favor of the IRS granting over…

Robert EwanisNovember 23, 2020

Articles International Commerce Group International Tax

Offshore Tax Update: IRS Revises the Delinquent International Information Return Submission Procedures

In early November 2020, the IRS updated the terms of the Delinquent International Information Return Submission Procedures (Procedures). The Procedures…

April PengNovember 12, 2020