Cross-Border Taxation

Cross-Border Taxation Lawyers

It may come as a surprise to some individuals engaged with cross-border activities that the United States taxes income based on citizenship rather than residency. This means that if you are considered a citizen to the states, you have to report your sources of income and pay taxes even if you live in a different country.

When individuals that have cross-border interactions in some relation to the United States do not report them to the Internal Revenue Service (IRS), it may be misconstrued as tax evasion, an act punishable by law.

The good news is that with the help of experienced cross-border tax attorneys like the ones at THEVOZ Attorneys, you can become well informed on tax legislation and regulations pertaining to the U.S. and other countries with some influence to your income.

Our best cross-border tax attorneys at THEVOZ Attorneys are waiting for your call. Contact us at +1 (512) 696 1467 to ensure that you are in compliance with U.S. and foreign tax laws.

About Cross Border Taxation

If you have a business in cross-border activities such as financing, acquisitions, and divestitures, it is imperative to ensure that such activities are well-structured and in compliance with the tax laws of the countries to which they pertain. Doing so can help businesses and individuals maximize tax efficiencies and minimize tax liabilities.

In today’s global economy, it is not uncommon for an individual or corporation to have inbound and outbound financial exchanges that create income in the United States. However, these parties should be aware of the differences between the legal structures and regulations of the United States and the other countries in which their financial activities occur, lest they incur legal penalties.

Strategic and integrated financial structuring and advice that takes into consideration the taxation laws of the countries where you interact financially can prevent legal penalties with the U.S.—a country that has strict taxation laws which apply to individuals with national, international, and cross-border activities.

Citizenship based taxation states that all persons considered U.S. persons must file taxes even if they are living in a foreign country. The following persons are deemed citizens by the United States and must abide by the tax law:

  • Individuals born in the United States
  • Legal permanent residents
  • Foreign individuals that pass the substantial presence requirements
  • Former legal permanent residents that do not expatriate correctly

With the help of the experienced cross-border tax attorneys of THEVOZ Attorneys, clients can prevent complications due to non-compliance of U.S. tax law and other countries where they make income and also reduce excess tax charge by seeking out available incentives and deductions.

Why You Need a Cross-Border Lawyer

The tax attorneys of THEVOZ Attorneys are well-seasoned in navigating cross-border integrated tax planning and can assist in a number of ways. We have mastered the following strategies for U.S. citizens and foreign entities that must abide by the U.S. tax law:

  1. Providing guidance for developing emerging companies
  2. Offering strategic and integrated tax planning
  3. Navigating transactional insurance matters
  4. Giving efficient and cost-effective solutions
  5. Resolving tax compliance complications
  6. Saving cross-border clients from double taxation

Working with an efficient financial services legal team provides cross-border clients with a finely tuned, strategic layout that can work to smooth out complications along the way or prevent them from occurring at all.

About THEVOZ Attorneys

Our tax attorneys have built a reputable stance in the financial realm of international and cross-border tax planning from years of diligent practice. Our attorneys come from various walks of life and academia but unite in solidarity to keep up with evolving foreign policy that changes as the global economy shifts.

With a vast scope of experience in international markets that participate in the elaborate web of global exchanges, individuals, businesses, and corporations can find the legal representation and guidance that they need to maximize growth and avoid run-ins with the law.

THEVOZ Attorneys cross-border tax attorneys work by the highest ethical standards and understanding that tax policy is strict and unforgiving, therefore we comply with strategic and innovative solutions that meet our clients’ expectations every time.

Cross-border taxation can often be complex and confusing, but the members of our firm can take on such dynamics in stride.

Four Cross-Border Tax Filing Mistakes to Avoid

It’s an established fact that financial matters regarding tax law and regulations can be tricky, even more so when you are dealing with international affairs between the U.S. and another country. Cross-border clients must take a comprehensive approach to ensure they are abiding by the tax policy of all countries where they reside, reporting them accurately, and paying taxes appropriately.

We here at THEVOZ Attorneys have developed a list of mistakes that are commonly made by taxpayers but can be avoided when it comes to cross-border financial operations:

1. Failing To Comprehend The U.S. Citizen Tax

The United States is different when it comes to their tax laws. Most countries make residents pay income tax, but if you are considered an American citizen, you must pay taxes. With our personal brand of tax guidance, you will pay your fair share of taxes and may even benefit from reductions or incentives.

2. Not Filing Cross-Border Taxes In Respective Countries

If you do live in a foreign country but are a U.S. citizen—or if you participate in inbound or outbound cross-border interactions—then you must also adhere to the tax laws and regulations of every country where your finances are at play.

3. Missing Out On the Foreign Tax Credit

Worldwide reporting of assets and earnings can be subject to reduction through the foreign tax credit. Speak with our tax attorneys to see how the foreign tax credit can be applied when already paying a share of income tax in another country besides the U.S. There are various applicable laws such as the Foreign Bank and Financial Accounts (FBAR) and the Foreign Account Tax Compliance Act (FATCA) that can apply under certain conditions.

4. Lack Of the Appropriate Legal Services

Not all financial advisors and tax lawyers are well-versed in the duties and complexities associated with cross-border transactions. Sometimes they may only take into account the country where you live and not file as a U.S. citizen and vice versa. Insufficient awareness of the tax obligations pertaining to varying policy structures could lead to serious legal penalties.

Avoiding these four errors with an experienced international tax attorney from THEVOZ Attorneys grants you peace of mind knowing that your business is abiding by all tax laws associated within the U.S. and abroad.

Contact the dedicated cross-border tax attorneys of THEVOZ Attorneys at +1 (512) 696 1467 to get started on your cross-border tax strategy today.

Client Reviews

Both you and Oliver did a great job in validating the information I gave you which made me feel good knowing I was on the right path. Your write up was also good to give to my CPA to look into for what foreign tax dollars I paid were valid to convert to US taxRead MoreDoug Richardson

Our international tax law attorneys are ready to work for you.

Get a confidential case evaluation.