International Tax: Foreign Investment in the United States

If you have foreign interests (such as a company overseas), you might not be aware of the international tax requirements brought on by recent reforms. From taxes on past and current overseas income to additional forms needed for your return, it’s critical to be aware of your obligations so you can avoid penalties. And the last thing you need is an unpleasant surprise from the IRS when you file your return! In this video, JMCo partner Erin Spiwak talks with fellow partner (and international tax advisor) Justyna Mueller about the tax issues that could apply to you. Transition taxes, global intangible low-taxed income (GILTI) and Form 5471 are covered in this brief yet important discussion.

There’s more than meets the eye with international tax.

The words “international tax” probably make you think of a worldwide corporation with thousands of employees and offices in far-flung nations. But you don’t have to be a massive conglomerate to be subject to international tax requirements (or eligible for breaks).

Did you know?

  • If you’re a U.S. citizen who has income from another country, your foreign-sourced income must be reported on your U.S. tax return because U.S. citizens and residents are taxed on their worldwide income.
  • If your company manufactures and sells goods to customers overseas, you may benefit from tax breaks.
  • Investing in a foreign company will also subject you to reporting requirements, as will foreign bank accounts – if you’ve established, inherited or have signature control of any such account, you’re required to report it to the IRS if you meet certain thresholds.
  • If you are a non-citizen and own real estate in the United States, you may be subject to tax withholding when you sell it and to income tax if you rent it out or have a gain on the sale.

The bottom line… the complications are real for even the smallest of international endeavors.

What you don’t know can hurt you.

The penalties for noncompliance are often steep, so it’s crucial to have international tax advisors who know the ins and outs of international tax regulations. James Moore & Co.’s international tax accountants have the experience and knowledge you need to ensure that you’re meeting the obligations brought on by your global dealings and interests. Some of the international tax planning services we offer include:

  • Reporting of foreign interest in foreign corporations and trusts
  • Filing of reports on foreign financial assets and bank accounts
  • Assistance with offshore voluntary disclosure programs
  • Foreign income tax exclusion calculations for wages earned overseas
  • Preparation of income tax returns for nonresident aliens
  • Applying for FIRPTA withholding certificates to reduce or eliminate withholding on sales of real estate by nonresidents
  • Obtaining a federal taxpayer identification number (TIN)
  • Entity structure consulting for ownership requirements
  • Structuring tax incentives for manufacturers with profits from exports (IC-DISC)

AGN International

James Moore is a member of AGN International, a global association of separate and independent accounting and advisory businesses. If the need arises, we are able to connect businesses and individuals with international markets.

AGN International is composed of 5 regions. Within each region and worldwide, member firms collaborate to meet clients’ needs and improve client service by understanding of each other’s markets and sharing experience and knowledge.

Need more information? Check out our library of tax-related articles.

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Justyna Mueller

Justyna Mueller, CPA


Justyna, a certified public accountant in the state of Florida, has over ten years of experience assisting clients with tax planning, tax compliance, entity selection, international tax consulting and reporting. Her primary areas of focus are the real estate industry, offshore reporting, taxation of foreign corporations and individuals who invest in the United States, and taxation of U.S. citizens working abroad.

Justyna often helps companies that are entering the U.S. market from overseas. Her work with them includes educating them about the U.S. tax system, tax planning that considers both their home and U.S. taxation, and helping them create U.S. subsidiaries of their foreign companies. She also assists with FIRPTA compliance and applying for ITINs and withholding certificates to reduce or eliminate withholding on sales of real estate by nonresidents. She helps U.S. citizens and residents with reporting of their interest in foreign corporations and trusts, and with filing of reports on foreign financial assets and bank accounts. She has assisted with numerous offshore voluntary disclosure applications and streamline programs.

Justyna currently serves on the board of the Estate and Planning Council of the Fun Coast and the Daytona State College Business School Advisory Board. She is also a chair of the Volusia Chapter of the Florida Institute of Certified Public Accountants and a member of the Hotel and Lodging Association of Volusia County.

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