Relocating employees, either into or out of the United States, triggers complex tax issues for both organizations and their expatriate employees. For companies providing tax equalization reimbursements to employees, many factors must be considered, including the taxability of company stock options and of foreign allowances such as cost-of-living, housing, transportation and relocation allowances.
Potential impacts reach beyond the company’s tax bill. Uncertainty and stress felt by employees can affect performance and willingness to accept important global assignments. But proper planning and knowledgeable assistance can make the process easier and less costly for everyone.
Weaver helps companies and employees make sense of varying taxes and filing requirements anywhere in the world.
Our expatriate and global mobility/employment support services include:
Expatriate Tax Services
Individual U.S. expatriate tax compliance both in the U.S. and abroad
U.S. citizens and U.S. permanent residents living abroad are required to file a U.S. individual income tax return every year if their income exceeds a certain threshold and/ or if they own foreign assets/ businesses. This is true even if the taxpayer also files a tax return in the country of residence. To prevent double taxation, taxpayers may be able to use the foreign tax credit or/and the foreign earned income exclusion. Weaver offers assistance with U.S. tax returns to ensure compliance with complex regulations and maximize deductions. Leveraging our foreign independent affiliate networks, we can also assist with foreign tax returns.
Weaver can also help you in coordinating your foreign tax return by leveraging from our foreign independent affiliates’ network.
Other expatriate tax service offerings include:
- FATCA and FinCEN compliance;
- IRS Streamline Procedures for U.S. citizens/green card holders who are delinquent on several years of U.S. tax filings;
- Personal State Income tax returns;
- Estate, Gift and Trust tax planning and compliance;
- Expatriation planning and compliance;
- And more
Foreign Nationals’ U.S. Tax Compliance and Planning
Foreign individuals engaged in a trade or business in the U.S. or receiving income from sources within the U.S. may be required to file a U.S. tax return. Depending on the type of income, foreign nationals could be taxed at a flat rate of 30% or at graduated tax rates. The U.S. has entered into tax treatises with various countries worldwide and under these treatises, foreign nationals may be eligible to be taxed at a reduced rate or may be exempt from U.S. income taxes on certain items of income. Weaver’s Expat Services team will analyze the relevant tax treaty to reduce your U.S. tax liability or claim a refund of taxes overpaid or over-withheld.
Weaver can also assist with:
- Tax planning and structuring related to your investment in U.S. real properties with support from our Real Estate tax group;
- FIRTPA withholding on the sale of U.S. real estate properties;
- Tax planning, structuring and compliance related to your investment in U.S business
Global Employment Tax Services
Relocating employees, either into or out of the U.S., triggers complex tax issues both for organizations and for their expatriate employees.
Weaver can help make overseas assignments easier for employees and less costly for employers. Our multilingual and experienced team of international tax professionals assist with:
- Pre-immigration tax planning to minimize employees’ tax liabilities and employers’ tax equalization costs;
- Preparation of Individual U.S. expatriate tax returns compliance and filing of foreign tax return compliance through our network of independent affiliates;
- Preparation of Foreign nationals’ U.S. tax returns;
- Tax equalization and hypothetical tax calculations;
- Shadow payroll management;
- Advice and briefings on potential issues in any country worldwide;
- Tax treaty and social security totalization agreement analyses