In an effort to funnel more jobs to Americans, the U.S. has implemented new visa restrictions that will make it harder both for U.S. companies to hire foreign workers and for multinationals to transfer their workers to the U.S.
As we shift to a post-pandemic economy, many employers have announced plans to extend their work-from-home policies indefinitely. But there are several important decisions that need to be made before making the transition. This post describes some of the most important things multinationals need to consider before shifting to a long-term remote-work model.
As the pandemic recedes in many places, businesses are readying their workforce to return to the office. We discuss some of the primary measures your organisation should consider now to prepare.
The U.S. Congress signed the CARES Act, which provides $2.2 trillion of support for businesses and other groups affected by the pandemic. We summarize some critical elements of the Act that multinational businesses operating in the U.S. should know.
The coronavirus is affecting the global economy in many ways, and the situation is constantly changing. Employers and their expat workers in particular must be mindful of the coronavirus and the ways in which state and local governments are responding.
U.S. companies that are 25 percent or more foreign-owned, foreign companies that are engaged in business with the U.S., and certain other multinationals must file a Form 5472 with their corporate U.S. tax return if they engage in a reportable transaction. The form isn't new, but related reporting requirements and penalties have been expanded.
The U.S. Treasury and IRS released guidance this month on the base erosion and anti-abuse tax and the foreign tax credit. We summarize the BEAT and FTC regulations so you’ll understand how they’ll affect your multinational organization.
The California Consumer Privacy Act (CCPA) goes into effect 1 January 2020. The Act will affect many if not most U.S. businesses and many companies worldwide. It takes a strict view of what constitutes private data and provides for a variety of penalties, some of them severe.
Banks and certain other financial institutions located outside the United States that have U.S. account holders must achieve full compliance with the U.S.'s Foreign Account Tax Compliance Act (FATCA) by 1 January 2020. As a result, U.S. taxpayers with assets in foreign accounts may see those accounts closed or frozen in the new year.
On September 5, the IRS published proposed regulations related to Sections 451(b) and 451(c) of the Internal Revenue Code, providing long-awaited guidance for taxpayers that use an accrual accounting method and have an applicable financial statement and/or receive advance payments.
Leaders from the G7 countries concluded their annual three-day summit yesterday. A storyline involving France, the U.S., digital taxation and wine tariffs illuminates some of the most important economic issues of our time.
If you’re a U.S. taxpayer with a bank account outside the country, you may need file an FBAR, which is used to report foreign account information to the U.S. government. Failure to file can result in severe penalties, with fines as high as $100,000 or 50% of the account's balance.