Tax Services
Outbound Tax
US persons and businesses with income, entities, or investments abroad
Your business went global. Your tax shouldn't punish you for it.
Tax strategy and compliance for US individuals and companies with foreign operations, subsidiaries, and investments — GILTI, Subpart F, and foreign tax credits handled so you're taxed once, not twice.
Foreign tax credits and the right elections that eliminate double taxation and keep every information return filed.
Core Directives
- Double-tax elimination
- Controlled-foreign-corp compliance
- Foreign account & asset reporting
Ready when you are
Operational Milestones
Map
We map every foreign entity, account, and income stream you touch, and classify each for GILTI, Subpart F, PFIC, and foreign-tax-credit treatment.
Model
We model the elections available to you — Section 962, high-tax exclusion, check-the-box — and choose the structure that minimizes your worldwide effective rate.
File
We prepare and file every US and information return on time — 5471, 8992, 8858, 926, FBAR, 8938 — with year-round monitoring of your foreign footprint.
Included Services & Outcomes
Worldwide Income Is Taxed — and Under-Reported
US persons are taxed on worldwide income. Owning a foreign corporation triggers GILTI, Subpart F, and a stack of information returns — Forms 5471, 8992, 8858, and 926 — where a single missed filing carries a $10,000 penalty per form, per year.
Questions
Outbound Tax FAQ
What is GILTI and does it apply to me?
Global Intangible Low-Taxed Income (GILTI) is a US tax on the earnings of foreign corporations you control. If you own 10% or more of a controlled foreign corporation, you likely owe GILTI tax annually — even if the company distributes nothing. We calculate it and apply elections like Section 962 to reduce the rate.
Do I have to file Form 5471?
If you're a US person who owns 10% or more of a foreign corporation, you generally must file Form 5471 every year. The penalty for failing to file is a minimum $10,000 per form, per year, per entity — so accurate, timely filing is essential.
What is the difference between FBAR and Form 8938?
Both report foreign financial assets, but to different agencies with different thresholds. FBAR (FinCEN 114) reports foreign accounts over $10,000 to the Treasury; Form 8938 (FATCA) reports a broader set of foreign assets to the IRS at higher thresholds. Many taxpayers must file both.
Can I avoid double taxation on foreign income?
Usually, yes. The foreign tax credit lets you offset US tax with taxes paid to foreign governments, and tax treaties can further reduce or eliminate double taxation. We structure your affairs to capture every available credit and treaty benefit.
I haven't filed foreign forms in prior years. What now?
The IRS offers streamlined and voluntary disclosure procedures for taxpayers who fell behind on foreign reporting non-willfully. We assess your exposure and guide you through the right program to become compliant while minimizing penalties.
Put SMAART Tax on your outbound tax
Book a free consultation. We'll review your situation, quote a fixed fee, and show you exactly what we'd do differently.