For U.S. Clients

Issues typically addressed on behalf of U.S. companies and individuals doing business or investing abroad:

For companies:

• Structuring to avoid multiple taxation as earnings cross national borders and to take advantage of tax deferral opportunities resulting from operations in low or zero tax jurisdictions (“subpart F” and "GILTI" planning and use of income tax treaties);
• The “IC-DISC” export tax incentive;
• Arranging cross-border corporate re-structurings to take advantage of tax-deferral opportunities (U.S. “tax-free reorganization” rules), purge disadvantageous tax attributes, and to avoid certain punitive U.S. anti-expatriation (“anti-inversion”) rules;
• Addressing the special rules applicable to U.S.-owned foreign “captive” insurance companies, such as the elections or qualifications under Sections 953(d) and 831(b);
• Structuring and timing of repatriation of foreign earnings to minimize the tax burden, including, for closely-held companies, taking advantage of the special 20% tax rate for so-called “qualified dividends” from qualified foreign countries;
• For banks, investment brokerage firms, and other financial institutions, ensuring compliance with U.S. rules to confirm tax status of clients (e.g. Form W-8BEN or Form W-9);
• Application of the U.S. “reciprocal exemption” and the gross basis tax to income from international shipping;
• Responding to the IRS on international tax issues.

For individuals:

• Maximizing availability of the foreign tax credit and the “foreign earned income exclusion” of Section 911 with respect to income earned abroad.
• Planning and compliance regarding foreign trusts;
• Assisting with compliance, such as the “FBAR” for foreign accounts and Forms 5471 (for controlled foreign corporations), 8865 (for foreign partnerships), 8621 (for passive foreign investment companies), and 3520 and 3520-A (for foreign trusts).