“The first challenge that clients face is recognizing the potential of an income, estate, gift, or employment tax issue with their current international situation.”
The U.S. Internal Revenue Code consists of a complex web of rules and regulations that may require reporting or taxes of which individuals and businesses may be unaware. At McGrath North, our international taxation practice benefits U.S. citizens, U.S. permanent residents and U.S. businesses working or living abroad, as well as non-resident individuals and businesses with financial interests in the United States. We advise our clients on their current situational compliance with federal tax reporting requirements, as well as the risks of noncompliance. We offer clients solutions that may minimize risks or resolve compliance issues in accordance with their individual or business goals. This includes counseling companies involved with multinational acquisitions on how to best structure transactions to achieve the most advantageous tax arrangement while accomplishing the client’s ultimate objectives.
Industry Experience: International tax audits, Individual international tax planning
If you are considering seeking advice from counsel, here is what we suggest you keep in mind:
- Determine whether you are in compliance with U.S. federal income, estate, gift, or employment tax reporting requirements.
- Fully assess the risks of noncompliance.
- Carefully consider all available options to avoid or minimize complications over U.S. and international tax compliance, while keeping your overarching goals in mind.