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IRS Announces Focus on Section 965 Non-Compliance

On November 4, 2019, the IRS Large Business and International (LB&I) Division announced its recent campaign regarding promoting the IRC…

April PengNovember 11, 2019

Articles International Commerce Group International Tax

New India Budget Provides Benefit for US Investors

Earlier this month, the Finance Minister of India proposed the 2020 budget to be effective from April 1, 2020. One…

Vinay NavaniFebruary 24, 2020

Articles International Commerce Group International Tax

Are you a Foreign Corporation doing business in the U.S.? Be Safe: File Form 1120-F

Just as US corporations must file a US corporate tax return, so must a foreign corporation file a US corporate…

April PengFebruary 26, 2020

Articles International Commerce Group International Tax

The IRS is Focusing on Cross Border Transactions at a New Level of Detail

The Internal Revenue Service (IRS) is continuing to increase its focus on cross border transactions and their reporting requirements. While…

Robert EwanisJuly 17, 2020

Articles International Commerce Group International Tax

IRS Announces Focus on Noncompliance for Individuals who are Shareholders of Foreign Corporations

The IRS recently announced a new area of focus under its issue-based audit strategy program focusing on Internal Revenue Code…

Lina LadekarlJuly 30, 2020

Articles International Commerce Group International Tax

Treasury Issues Final Regulations For Gilti High-Tax Exclusion And Proposed Regulations For Subpart F High-Tax Exception

On July 23, 2020, the Department of the Treasury and the Internal Revenue Service (collectively, Treasury) published in the Federal…

WilkinGuttenplanAugust 20, 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

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 Tax Services

ITIN Expirations: Do You Need to Renew Your ITIN in 2019?

Over 2 million Individual Identification Numbers (ITINs) will expire at the end of this year. The Internal Revenue Service issued…

WilkinGuttenplanJuly 9, 2019

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