- US individual income tax returns with foreign income reporting
- Foreign earned income exclusion and foreign housing exclusion
- Tax residency determination and exit tax planning
- Expat tax compliance and treaty position analysis
International Tax
Cross-border tax is complex and the penalties are severe. WhippleWood helps individuals, expats, and businesses navigate international compliance and minimize global tax burden.
The Reality of Cross-Border Tax Obligations
International tax is where complexity and penalty exposure are highest, and where getting it wrong costs the most
Severe Penalties for Missed Filings
Foreign account and asset reporting obligations carry severe penalties. Missing an FBAR, FATCA, or foreign entity filing, even unknowingly, can trigger consequences that far exceed the underlying tax.
Taxed in Two Countries
Cross-border income can be taxed by more than one country at once. Without treaty analysis and foreign tax credit planning, double taxation becomes an avoidable but very real cost of operating globally.
Residency Rules That Don’t Agree
Residency and income sourcing rules vary by country and treaty. Errors in this analysis result in income taxed in the wrong place, or in multiple places, creating gaps and exposure that grow over time.
Reporting Rules Most Owners Miss
Foreign entities and passive investments trigger US reporting rules and potential income inclusions. CFC rules, GILTI calculations, and PFIC treatment create compliance obligations that are easy to miss.
How WhippleWood Makes the Difference
We combine deep technical knowledge of international tax law with coordinated advisory support, giving individuals and businesses the clarity to operate globally with confidence.
Technical Depth
We bring precise knowledge of foreign entity classification, PFIC rules, CFC and GILTI calculations, and international reporting forms, ensuring every position is accurate and defensible.
Reduce Double Taxation
We analyze applicable tax treaties and optimize foreign tax credit utilization to minimize your global tax burden, so you aren’t paying more than you owe across jurisdictions.
Compliance Gap Review
We review your filing history to identify gaps, assess penalty exposure, and evaluate eligibility for IRS streamlined filing procedures, helping you get into compliance with the least possible cost.
Cross-Border Advisory
We collaborate with foreign tax professionals and coordinate planning across jurisdictions, delivering integrated guidance for business owners and high net worth individuals operating internationally.
Awards & Recognition
Comprehensive International Tax Services
From Compliance Review to Coordinated Global Planning
Our international tax process begins with a thorough review of your cross-border situation, identifying gaps, quantifying exposure, and building a compliant, tax-efficient position across every jurisdiction.
Assessment
We review your foreign income sources, financial accounts, entity ownership, and prior filing history. We identify unreported foreign assets, missed filing obligations, and exposure to penalties, and assess eligibility for penalty relief programs where applicable.
Compliance & Filing
We prepare and file all required international forms, FBAR, FATCA, Form 5471, 8865, 8621, 3520, and your individual or business returns, applying treaty positions, foreign tax credits, and jurisdiction-specific rules to every position. Every filing is accurate, well-documented, and defensible.
Ongoing Partnership
We monitor your international tax obligations as your situation evolves, tracking legislative changes across jurisdictions, advising on cross-border transactions, coordinating with foreign tax professionals, and keeping your global tax position optimized year after year.
Common Questions About Our International Tax Services
es. US persons, citizens, green card holders, and certain residents, are required to file an FBAR (FinCEN Form 114) if the aggregate value of their foreign financial accounts exceeds $10,000 at any point during the year.
Separately, FATCA requires reporting foreign financial assets above certain thresholds on Form 8938. The penalties for non-filing are severe, up to $10,000 per violation for non-willful failures, and significantly higher for willful violations.
If you have unfiled FBARs, we assess your situation and determine whether you qualify for penalty relief through the IRS streamlined filing procedures.
It is not too late, and coming forward proactively is almost always better than waiting for the IRS to discover the gap.
The IRS offers streamlined filing procedures, both domestic and offshore, that allow eligible taxpayers to file delinquent returns and FBARs with significantly reduced or eliminated penalties.
We review your full filing history, assess which program you qualify for, and manage the entire process to bring you into compliance with the least possible exposure.
Potentially significant ones. Foreign mutual funds and many offshore investment vehicles are classified as Passive Foreign Investment Companies (PFICs) under US tax law.
PFIC ownership triggers complex annual reporting on Form 8621 and can result in punitive tax treatment on gains and distributions unless specific elections are made.
We identify PFIC holdings, analyze the available elections, and ensure your investments are reported correctly to avoid the default, and most costly, tax treatment.
Yes. The United States taxes its citizens on worldwide income regardless of where they live. As a US expat, you are required to file a US tax return each year, report foreign financial accounts, and comply with FATCA reporting obligations.
However, you may be able to significantly reduce or eliminate US tax through the foreign earned income exclusion, foreign housing exclusion, or foreign tax credits.
We prepare expat returns, analyze available treaty benefits, and coordinate your US obligations with your local country filings.
US persons who own 10% or more of a foreign corporation are generally required to file Form 5471 annually, one of the most complex information returns in the US tax code.
If the foreign corporation qualifies as a Controlled Foreign Corporation (CFC), additional rules apply, including potential income inclusions under Subpart F and GILTI.
We identify your filing obligations, prepare all required forms, and calculate any income inclusions correctly, ensuring your foreign operations are properly reported and your US tax position is defensible.
We take a coordinated advisory approach, collaborating directly with your foreign tax professionals, legal counsel, and financial advisors in other jurisdictions.
International tax planning only works when the US and foreign sides are aligned. We serve as your US tax anchor, sharing information across jurisdictions, ensuring treaty positions are consistently applied, and making sure no planning opportunity or compliance obligation falls between the cracks.
Ready to Get Your International Tax Obligations Under Control?
Let’s discuss how WhippleWood can bring clarity to your cross-border compliance, reduce your global tax burden, and keep you protected on both sides of the border.
Questions? info@whipplewoodcpas.com | 303-989-7600
