International Tax Compliance

Kostelanetz LLP regularly represents U.S. individuals, multinational and domestic companies, and entities seeking advice on international tax compliance, such as how to maintain compliance or become compliant with U.S. tax reporting obligations for foreign financial assets and accounts that are held overseas as well as issues regarding non-U.S. persons and entities owning U.S.-based assets.

We work closely with our clients’ accountants to ensure international tax reporting requirements are fulfilled in a way that minimizes tax risk or the imposition of penalties by the Internal Revenue Service (IRS).

Our attorneys are skilled at assisting clients in identifying when and how they should file foreign information returns, including a Report of Foreign Bank and Financial Accounts (FBAR), IRS Form 8938 for specified foreign financial assets, and the proper reporting of other non-U.S. source income and assets to the appropriate U.S. agencies. 

Kostelanetz attorneys also assist clients in determining how to classify non-U.S. entities for purposes of Foreign Account Tax Compliance Act (FATCA) reporting. We are also well-versed in issues related to foreign tax credits and double taxation, tax treaties, and transfer pricing rules.

When a client needs to come into compliance with their tax obligations, our attorneys will advise them on the best course of action, up to and including making a voluntary disclosure to the IRS and/or state taxing authorities, when appropriate. Voluntary disclosures can be an effective way for taxpayers to limit their criminal and civil liability for past international tax noncompliance, including failure to file tax returns or international forms and other tax and reporting violations. 

Kostelanetz attorneys have deep experience with the Internal Revenue Service's (IRS) myriad disclosure practices, including the Offshore Voluntary Disclosure Program, the Voluntary Disclosure Practice,  and all recent developments in voluntary disclosures. The firm has also represented thousands of taxpayers coming into tax compliance under alternative paths, including the Streamlined Filing Procedures, FBAR Submission Procedures, Delinquent International Information Return Submission Procedures, Qualified Amended Returns, and other IRS compliance policy statements.

Advice regarding international tax compliance often goes hand-in-hand with the tax and estate planning advice services offered by our attorneys.