International Tax Audits
The area of international taxation is incredibly complex. It requires a detailed understanding of the laws of the countries involved in the transactions, as well as how various treaties impact the tax consequences of business operations. At Milikowsky Tax Law, we are prepared to assist our foreign and domestic clients with every aspect of international tax law and partner with exceptional firms in a number of countries, including Mexico, Brazil, and throughout Latin America. When international transactions lead to audits, the skilled team at Milikowsky Tax Law is prepared to assist throughout the process.
The new global economy means that many businesses are engaging in foreign transactions and many families are impacted by cross-border tax consequences of financial dealings. This also has resulted in far more international tax audits than ever before as the Internal Revenue Service (IRS) has become much more active in reviewing international taxation matters.
Although the IRS always has monitored the international transactions of United States citizens, small businesses, corporations, and other entities that have foreign accounts, the number of audits arising out of international tax issues is on the rise. In addition, there are many pitfalls for those foreign nationals who are engaging in financial transactions that occur in whole or in part in the United States.
In the event of a tax audit involving international income, the determination of tax residency, foreign tax credits, the applicability of specific tax treaties, and other issues arising out of the source of income and the international tax consequences, it is imperative to have legal representation that understands all the nuances of international tax law and has international partners to assist in the logistics of an audit. At Milikowsky Tax Law, our skilled professionals are ready to help untangle the messy legal problems that may arise as part of an international tax audit. We offer a one-hour free consultation in office or via telephone or video conferencing in order to learn about your international tax issues and offer possible solutions.