Yes. Since the Repatriation Tax is very complex, some tax professionals prefer to outsource it to a firm like ours that specializes in international tax. We have assisted wealth advisors, other US CPA firms, and overseas tax professionals with their Repatriation Tax needs.
In some cases, we have prepared the Section 965 calculations and related forms and schedules. In other cases, we have prepared the entire returns. We are able to set up tailored arrangements based on your needs.
Our process includes:
- Initial Assessment | We gather the relevant facts, provide feedback on your situation, and recommend next steps
- Repatriation Tax Calculation | Typically, we review your most recent several years’ worth of financial statements, prepare an Earnings and Profits (E&P) study, and then calculate the Repatriation Tax on these earnings
- Adjustments | We explore options to reduce the overall Repatriation Tax and make a final plan with you
- Discussion of Tax Payment Options | In 2018, taxpayers could pay the Repatriation Tax in full or in installments. Although most payments must now be made in full, we will review your options with you, and discuss the benefits and drawbacks of the options
- Filing | We prepare Form(s) 5471
- Planning Ahead | We assist you with planning in a number of areas, including GILTI planning, base erosion tax planning, future §962 elections, net investment income tax planning, and entity structuring.
