Our experience in this area extends over many years of working with internationally based families and their descendants. As trusted advisors, we work closely with these families over many years to ensure that they comply with the informational forms, filing deadlines, and at all times stay legally compliant with the absolute minimum possible exposure to tax payments and penalties.

The U.S. taxes its residents (including citizens) on a worldwide basis. The tax assessment can apply to income and gains that accrued outside the U.S. and prior to the foreign national’s arrival in the U.S. Simply recognizing a gain while a resident of the U.S. will trigger the tax, irrespective of where or when the gain accrued (foreign tax credits may provide relief).

The services of an experienced international tax CPA and Attorney can help steer you through the most advantageous way to enter into compliance. Getting in touch with someone to discuss your unique situation is the most important first step you can take.