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International Tax Law
International tax law is a highly technical field, encompassing rules and regulations set forth in federal, state, and local tax laws of the United States and foreign countries. The federal and state taxation of an individual or corporation in the United States may depend upon many factors, including the income of that person, the tax residency of that person, the type of visa held by that person, and the type of assets held by that person which generate income, to name a few. In addition, international tax treaties and intergovernmental agreements may affect the taxation of both individuals and business entities.
In addition, the rise of an increasingly global economy means that anyone with a computer may begin entering into commercial transactions in almost any nation in the world. Small businesses which were ”mom-and-pop” shops 20 years ago are now frequently selling into Canada and Mexico, and oftentimes into countries in Asia, Europe, Africa, and South America. The extent of activities abroad can lead to unnecessary taxation by a multitude of countries for the same activities. Help with comprehensive tax planning, as well as a zealous defense in the result of an audit, can help alleviate these competing tax burdens and ensure that taxes are no higher than necessary in the worldwide marketplace. In addition, if taxes have not been paid for offshore accounts, our well-qualified tax attorneys can help in filing for the OVDP as a part of the IRS’s plan for minimizing undisclosed offshore assets.
International Tax Defense
The IRS has been monitoring and will continue to monitor accounts held by U.S. citizens, corporations, business, and others overseas. Foreign nationals who live in the U.S. must be vigilant as to their tax residency, as U.S. tax residents are often required to report their valuable foreign assets and accounts to the IRS each year. At JDKatz, we frequently advise and defend businesses and individuals with unreported foreign-source income and foreign assets. Our international tax experts are here for professional tax advice and litigation when needed.
We also have extensive experience in representing clients who are recipients of foreign funds, such as beneficiaries of foreign trusts and foreign estates. We understand that most taxpayers hold assets offshore for legitimate, non-tax reasons, and are not actively trying to shield their assets. Our international tax firm at JDKatz strives to offer solutions for your international tax issues.
Our professionals can assist in navigating the complex rules of taxation of international income, such as foreign tax credits, the determination of tax residency, the source and character of income, and treaty-based tax positions. We have represented clients in international tax matters ranging from the tax-efficient structuring of international transactions to defending treaty-based positions and tax residency issues before the IRS.
If you have questions regarding your international income or business structure, you may schedule a free consultation with the experienced attorneys at JDKatz: Attorneys at Law today in the Bethesda and Washington, D.C. area. Our versatile background in international taxation will help to simplify your foreign financial burden and deliver you peace of mind.
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