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International Tax

  • Avoid IRS Scrutiny of Your Cross-Border Transactions

    By MarksNelson on June 4, 2018
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    The IRS has identified transfer pricing as one of its top audit issues, and the same holds true for other revenue-strapped tax authorities. Don’t put your company at risk for incurring steep penalties of 20% – 40% on transfer pricing adjustments by not being in compliance.
  • IRS Plans to Discontinue the Offshore Voluntary Disclosure Program

    By MarksNelson on April 4, 2018
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    The OVDP, which has provided the opportunity to pay taxes owed in exchange for protection from criminal liability, has allowed such taxpayers to resolve their civil tax liabilities at reduced rates.
  • What is “Substantially Complete” for International Information Return Penalties? IRS Clarifies the Issue

    By MarksNelson on March 22, 2018
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    Recently, the IRS issued a much-needed clarification on the meaning of “substantially complete” in the context of international taxes. The clarification was issued in a long-awaited International Practice Unit (IPU). This update provides much-needed guidance to help ensure that international informational returns are substantially complete to avoid significant penalties. Practice Units are not official pronouncements of law or directives and cannot be relied on as such.
  • Do You Qualify for a Tax Deduction for International Sales?

    By MarksNelson on January 30, 2018
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    As a business owner, you want to be sure you are taking advantage of every potential tax savings opportunity. One such opportunity is for those businesses which export items that are 50 percent or more manufactured in the U.S. If you meet that requirement, you may qualify for as much as 15% to 20% in tax savings by setting up a separate business entity called an Interest Charge Domestic International Sales Corporation (IC-DISC). IC-DISCs can work with C-corps, S-corps, LLCs and partnerships.
  • Tips for Selecting the Correct International Tax Entity Classification

    By MarksNelson on November 21, 2017
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    Selecting the correct legal and tax entity type is one of the most important building blocks for any business. When it comes to liability protection and optimizing tax outcomes, choosing the right entity classification can make a world of difference.
  • Update: Lawmakers Abandon Controversial Border-Adjustment Tax Plan

    By MarksNelson on July 31, 2017
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    After months of uncertainty, a controversial tax plan is dead. Last Thursday, Trump administration officials and top congressional lawmakers said in a joint statement the border-adjusted tax will no longer be part of the ongoing negotiations for tax legislation.
  • Effect of a Border Adjustment Tax on the U.S. Economy

    By MarksNelson on June 8, 2017
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    The Trump administration plans to hold more than a dozen "listening" meetings over the next few months with business leaders on tax reform. The White House released its one-page plan back in April and hopes to have a more detailed plan for Congress later this summer. Meanwhile, one component remains front and center —the border adjustment, a proposal to change the ways goods and service are taxed depending on where they are manufactured and where they are consumed. Let’s take a closer look at what is being proposed and what effect it might have on U.S. companies.
  • Doing Business in Qatar

    By MarksNelson on June 9, 2016
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    LEA Global, the second-largest international association in the world is pleased to announce the release of BUSINESS IN QATAR, a complimentary whitepaper detailing the challenges companies face when doing business in the country.
  • Doing Business in Canada

    By MarksNelson on February 16, 2016
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    The whitepaper is intended to assist businesses considering doing business in Canada and provides details about the cultural, governmental, and economic forces in the various regions of the continent.
  • Why Deal Structure Counts, Comparing & Contrasting Asset And Stock Deals

    By MarksNelson on November 3, 2015
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    The merger and acquisition market is picking up along with the performance of the manufacturing sector. If you’re planning to buy or sell soon, you’ll need to negotiate more than just the selling price. This article discusses how deal structure can have a major impact on expected cash flow and exposure to potential liabilities after the dust settles.