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Jan 20, 2018

IRS Issues Guidance for New Repatriation Tax

Many U.S. owners of foreign companies are surprised to hear that the new repatriation tax not only applies to “repatriated” foreign earnings, but also to foreign earnings that are not repatriated into the U.S.   They are even more surprised to learn that the deemed repatriation tax may be due as early as the 2018 tax season.» Read More

May 09, 2017

IRS Announces Tax Treaties Resulted in Low Withholding Rates to Foreign Individuals and Entities

In the 2017 Statistics of Income Bulletin, the IRS reported that foreign recipients of U.S. source income from treaty countries had an average withholding rate of 13.9% compared to 25.6% for payments made to residents of non-treaty countries.   Absent certain exceptions and/or exemptions, a foreign person, including a foreign entity, is generally subject to tax at a flat 30% rate on U.S.» Read More

Oct 16, 2014

Streamlined Filing Compliance Procedures

On October 9 and October 10, the Internal Revenue Service issued new guidance and questions and answers for taxpayers regarding the Streamlined Filing Compliance Procedures announced this summer. For a detailed explanation and link to this guidance please click hereRead More

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