Repatriation of Income
At some point, many U.S. taxpayers want to bring their money, investments or other assets into the United States. As part of its increased effort to enforce U.S. tax laws related to foreign transactions, the IRS is paying increased attention to how U.S. individuals and businesses are bringing money into the United States. The IRS is scrutinizing repatriation activity, looking for evidence of improper reporting, abusive use of foreign tax credits, earnings stripping, even money laundering, wire fraud and other crimes.
If you need help with issues related to the repatriation of income, contact Kevin E. Thorn, Managing Partner of Thorn Law Group, today at (240) 235-5096.