Attention ALL US Expats!
Are you in compliance with your US Taxes while living in Thailand?
Do you know there are special requirements for US citizens living abroad and especially for US citizens who work or own a business overseas?
Through FATCA, increased staff, and scrutiny of tax filings, the IRS continues to step up enforcement of international tax reporting.
These laws apply to all US persons regardless of where they live or earn their income.
Additionally, nonreporting can have some very severe penalties as taxpayers try to navigate an intricate maze of complex forms and formulas that leave some of the most sophisticated, high-level professionals bewildered and confused.
Questions such as:
• Who exactly is considered a US person for taxes?
• How are foreign businesses with US owners taxed?
• What income needs to be reported?
• What forms and information needs to be disclosed to be compliant with the law?
• Will disclosing my non-US accounts raise a red flag?
• Are there any amnesty options?
• U.S. reporting for businesses under the Treaty of Amity
On May 3rd, we intend to provide some clarity and certainty to some of these issues for the US expat community in Thailand.
We’ll be discussing what steps an American citizen can take to come into compliance with the US tax code, what are some of the common challenges that US taxpayers in Thailand face, clearing up misconceptions people have in terms of their rights and responsibilities as US taxpayers, and answering questions people may have for us.
These questions do not need to cause fear but do need to be taken seriously.
Presenters:
Josh Maxwell CPA, Attorney
Hone Maxwell LLP Mahanakorn Partners Group
Matthew Stevens Enrolled Agent
Global US Tax Plan
Mitsuru Nishiuwatoko
Senior Counsel, CPA Mahanakorn Partners Group
Pimpawadee Komolthiti
Counsel Mahanakorn Partners Group
Beer, wine and appetizers provided.
