CPA WorldTax Areas of Expertise for U.S. Citizens or Residents:

  • Foreign Bank Account Reporting (FBARs)
  • Analysis of Foreign Tax Credits vs. Foreign Earned Income Exclusion
  • Tax Planning for a move to the U.S. as well as becoming an Expat in a foreign country
  • Effect of Income Tax Treaties and Treaty-Based Position Disclosures
  • Resident Elections and Dual-Status Returns
  • Foreign Trusts and Estates
  • Receipt of Foreign Gifts or Inheritances
  • Reporting of Foreign Corporations-Controlled Foreign Corporations
  • Cross-border or overseas divorce implications

Tax Planning and Preparation for U.S. Individuals with Foreign Reporting

The United States is one of the few countries in the world which taxes based upon citizenship or residency.

All U.S. citizens and residents must file a tax return (unless they expatriate) if they meet the U.S. filing requirements. There is also extensive reporting required if U.S. citizens or residents own foreign investments.

For new U.S. residents, as well as U.S citizens living abroad or having foreign investments, the tax reporting burden is onerous and confusing.

Let CPA WorldTax help you navigate your foreign reporting requirements to stay in compliance with the IRS. We can also provide guidance in reducing your overall tax liability if you have to file in multiple countries.

CPA WorldTax, LLC • Answered 24 hours: 913-708-8306 • 888-512-4860 (toll-free)