Unraveling the United States- Italy Income Tax Treaty and a Closer Look as to How the Treaty Views Fiscally Transparent Entities Such as “Hybrid” and “Reverse Hybrid” Entities

Unraveling the United States- Italy Income Tax Treaty and a Closer Look as to How the Treaty Views Fiscally Transparent Entities Such as “Hybrid” and “Reverse Hybrid” Entities

Tax Law
By Anthony Diosdi The major purpose of an income tax treaty is to mitigate international double taxation through tax reduction or exemptions on certain types of income derived by residents of one treaty country from sources within the other treaty country. Because tax treaties often substantially modify U.S. and foreign tax consequences, the relevant treaty must be considered in order to fully analyze the income tax consequences of any outbound or inbound transaction. The U.S. currently has income tax treaties with approximately 58 countries. This article discusses the implications of the United States- Italy Income Tax Treaty. There are several basic treaty provisions, such as permanent establishment provisions and reduced withholding tax rates, that are common to most of the income tax treaties to which the United States is a…
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Did You Get an Audit Notice?

Did You Get an Audit Notice?

Tax Law
Most people assume that an audit will never happen to them. After all, they are honest on their taxes and pay what they should, so why would they be audited? But then, a notice of audit arrives in the mail, and you start to wonder whether you made mistakes on your taxes that can get you in trouble. What is the best course of action in this situation? Contact a Tax Attorney First, you should always consult with a San Francisco tax lawyer if you receive notice that you will be audited. We can review the returns in question, as well as all communications from the IRS. We can assist you in gathering and submitting all of the necessary information and documentation to the auditor. When an attorney helps you…
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Unraveling the United States- Japan Income Tax Treaty and a Closer Look at Article 4(6) of the Treaty Which Limits the Use of Arbitrage Structures

Unraveling the United States- Japan Income Tax Treaty and a Closer Look at Article 4(6) of the Treaty Which Limits the Use of Arbitrage Structures

Tax Law
By Anthony Diosdi The major purpose of an income tax treaty is to mitigate international double taxation through tax reduction or exemptions on certain types of income derived by residents of one treaty country from sources within the other treaty country. Because tax treaties often substantially modify U.S. and foreign tax consequences, the relevant treaty must be considered in order to fully analyze the income tax consequences of any outbound or inbound transaction. The U.S. currently has income tax treaties with approximately 58 countries. This article discusses the implications of the United States- Japan Income Tax Treaty. There are several basic treaty provisions, such as permanent establishment provisions and reduced withholding tax rates, that are common to most of the income tax treaties to which the United States is a…
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Unraveling the United States- Ireland Income Tax Treaty

Unraveling the United States- Ireland Income Tax Treaty

Tax Law
By Anthony Diosdi The major purpose of an income tax treaty is to mitigate international double taxation through tax reduction or exemptions on certain types of income derived by residents of one treaty country from sources within the other treaty country. Because tax treaties often substantially modify U.S. and foreign tax consequences, the relevant treaty must be considered in order to fully analyze the income tax consequences of any outbound or inbound transaction. The U.S. currently has income tax treaties with approximately 58 countries. This article discusses the implications of the United States- Ireland Income Tax Treaty. There are several basic treaty provisions, such as permanent establishment provisions and reduced withholding tax rates, that are common to most of the income tax treaties to which the United States is a…
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Unraveling the United States- Mexico Income Tax Treaty

Unraveling the United States- Mexico Income Tax Treaty

Tax Law
By Anthony Diosdi The major purpose of an income tax treaty is to mitigate international double taxation through tax reduction or exemptions on certain types of income derived by residents of one treaty country from sources within the other treaty country. Because tax treaties often substantially modify U.S. and foreign tax consequences, the relevant treaty must be considered in order to fully analyze the income tax consequences of any outbound or inbound transaction. The U.S. currently has income tax treaties with approximately 58 countries. This article discusses the implications of the United States- Mexico Income Tax Treaty. There are several basic treaty provisions, such as permanent establishment provisions and reduced withholding tax rates, that are common to most of the income tax treaties to which the United States is a…
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Business Impact of the United States- France Income Tax Treaty

Business Impact of the United States- France Income Tax Treaty

Tax Law
By Anthony Diosdi The major purpose of an income tax treaty is to mitigate international double taxation through tax reduction or exemptions on certain types of income derived by residents of one treaty country from sources within the other treaty country. Because tax treaties often substantially modify U.S. and foreign tax consequences, the relevant treaty must be considered in order to fully analyze the income tax consequences of any outbound or inbound transaction. The U.S. currently has income tax treaties with approximately 58 countries. This article discusses the implications of the United States- France Income Tax Treaty. There are several basic treaty provisions, such as permanent establishment provisions and reduced withholding tax rates, that are common to most of the income tax treaties to which the United States is a…
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Unraveling the United States- India Income Tax Treaty

Unraveling the United States- India Income Tax Treaty

Tax Law
By Anthony Diosdi The major purpose of an income tax treaty is to mitigate international double taxation through tax reduction or exemptions on certain types of income derived by residents of one treaty country from sources within the other treaty country. Because tax treaties often substantially modify U.S. and foreign tax consequences, the relevant treaty must be considered in order to fully analyze the income tax consequences of any outbound or inbound transaction. The U.S. currently has income tax treaties with approximately 58 countries. This article discusses the implications of the United States- India Income Tax Treaty. There are several basic treaty provisions, such as permanent establishment provisions and reduced withholding tax rates, that are common to most of the income tax treaties to which the United States is a…
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Unraveling the Controversial United States- Hungary Income Tax Treaty

Unraveling the Controversial United States- Hungary Income Tax Treaty

Tax Law
By Anthony Diosdi The major purpose of an income tax treaty is to mitigate international double taxation through tax reduction or exemptions on certain types of income derived by residents of one treaty country from sources within the other treaty country. Because tax treaties often substantially modify United States and foreign tax consequences, the relevant treaty must be considered in order to fully analyze the income tax consequences of any outbound or inbound transaction. The United States currently has income tax treaties with approximately 58 countries. This article discusses the highly controversial United States- Hungary Income Tax Treaty. There are several basic treaty provisions, such as permanent establishment provisions and reduced withholding tax rates, that are common to most of the income tax treaties to which the U.S. is a…
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A Deep Dive Into the United States-United Kingdom Income, Gift, and Estate Tax Treaties

A Deep Dive Into the United States-United Kingdom Income, Gift, and Estate Tax Treaties

Tax Law
By Anthony Diosdi The major purpose of an income tax treaty is to mitigate international double taxation through tax reduction or exemptions on certain types of income derived by residents of one treaty country from sources within the other treaty country. Because tax treaties often substantially modify U.S. and foreign tax consequences, the relevant treaty must be considered in order to fully analyze the income tax consequences of any outbound or inbound transaction. The U.S. currently has income tax treaties with approximately 58 countries. This article discusses the implications of the United States -United Kingdom Income Tax Treaty. There are several basic treaty provisions, such as permanent establishment provisions and reduced withholding tax rates, that are common to most of the income tax treaties to which the U.S. is a…
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The Cross-Border Tax Implications of Canadians Holding U.S. Real Property

The Cross-Border Tax Implications of Canadians Holding U.S. Real Property

Tax Law
By Anthony Diosdi Canadians actively invest in U.S. real estate by speculating on land and developing homes, condominiums, shopping centers, and commercial buildings. The article attempts to summarize the Canadian and U.S. tax consequences surrounding a Canadian’s acquisition of different U.S. real property interests. The most common way Candians hold U.S. real property is by direct ownership. Direct ownership by an individual Canadian resident of U.S. real estate is generally not recommended because the individual will be exposed to the commercial risks associated with the property. Personal ownership may also give rise to the U.S. estate tax and gift tax. Personal ownership of U.S. real property may also trigger cross-border tax filing requirements. If a Canadian owns real property that is income producing, he or she will likely be required…
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