International

Prague & Company, P.C. acknowledges that our clients, be them individuals or businesses, operate in a global capacity. Many of our clients have and continue to make significant investments abroad and/or operate businesses in such jurisdictions as Australia, Chile and China. In addition, some of our clients, be them United States or non-United States persons, work abroad on a short-term or long-term basis.

Living and working in a global world creates complex and challenging tax issues that oftentimes triggers the application of additional tax requirements, procedures and administrative compliance. At Prague & Company, P.C., we handle all these matters by diligently researching and analyzing the tax implications of clients’ circumstances and preparing any associated tax filings. As the tax laws continue to change, clients can feel confident that we are prepared to help them through these uncertain times.

Among the international tax services Prague & Company, P.C. provides, we provide the following:

  • Guidance on certain tax credits, deductions and exclusions associated with working, investing or operating in a foreign jurisdiction
  • Preparation of foreign informational tax returns (Forms 5471, 8858, 8865 and 5472)
  • Preparation disclosures on foreign bank accounts / investments, including the Report of Foreign Bank and Financial Accounts (FBAR) and the Offshore Voluntary Disclosure Program (OVDP)
  • Inclusion of foreign active and passive income and calculation of the associated foreign tax credits (section 901 and 902 credits)
  • Application of  US anti-deferral regimes (i.e. Subpart F income) and withholding tax regimes (i.e. Fixed, Determinable, Annual, Periodical (FDAP) income)
  • Repatriation planning