US DESK The American Desk in Brazil addresses various tax issues and dealings with the US tax authorities (IRS) in different areas. The desk is staffed by a licensed US CPA and a tax advisor specializing in international taxation. Among the services provided:
- FBAR Filing – U.S. citizens and residents (including "Green Card" holders) are required to report annually on their involvement in non-U.S. financial accounts (not just bank accounts). Reporting on non-U.S. accounts must be done using Form FBAR on an annual basis, provided that during the year the taxpayer acquired ownership interests or signing authority in financial accounts in a country other than the U.S., the aggregate value of which exceeds 10,000$ (even for a single day during the year).
- Voluntary Disclosure in the US and its Various Types - On July 1, 2014, an important update to the voluntary disclosure program for U.S. citizens and residents, residing both within and outside the U.S., came into effect. U.S. citizens and residents who have income that was not properly reported in the U.S. in recent years and who hold bank accounts and assets outside the U.S. are strongly advised to consider contacting the authorities through us under the new program, thereby avoiding heavy fines.
- Personal reports
- Company Reports: Reporting Through LLC Companies - Many Israeli investors operate in the United States, and in particular in the U.S. real estate market, through an entity incorporated as a Limited Liability Company (LLC). This method of operation is generally based on the understanding that an investment in an LLC embodies both corporate and tax advantages in the United States. Further details on these advantages can be obtained at our office.
- Social Security in the United States and maximizing the rights of U.S. citizens living in Israel.
