Previous Mobility Matters Express videos
The Posted Workers Directive for U.S. Employers
April 26, 2023 | Many U.S. employers are unaware of the Posted Workers Directive (PWD) in the European Union and are often caught off guard when faced with penalties for noncompliance. The PWD is often misunderstood as only applying to European employers, but the PWD applies to all employers with posted workers in the EU. Given that each EU member state has its own system for registration under the PWD and sets its own sanctions and financial fines for non-compliance with the registration obligation, U.S. employers sending employees to an EU member state should be aware of the member state’s compliance requirements under the PWD to avoid penalties for noncompliance.
For additional information on the PWD, please see GMS Flash Alert 2021-080 (March 11, 2021).
Supreme Court to review application of non-willful FBAR penalty
December 20, 2022 | With the Supreme Court of the United States set to rule on whether the penalty imposed on taxpayers for the non-willful failure to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (commonly referred to as the “FBAR”), is assessed on a per-form or per-account basis, Washington National Tax’s Yoori Sohn provides an overview of the case, its implications for international taxpayers, and the options available to taxpayers who are not compliant with their FBAR obligations.
Foreign Tax Credit regulations
July 28, 2023 | In this episode, Washington National Tax’s Martha Klasing discusses a provision contained in the recently finalized foreign tax credit regulations that addresses when a taxpayer may claim foreign tax credits under the accrual basis on an amended return.
July 21, 2022 | In this episode, Washington National Tax’s Martha Klasing provides an overview of the Internal Revenue Service’s current position on cryptocurrency and addresses some of the tax issues employers may want to contemplate when incorporating cryptocurrency into their rewards and benefits programs.
Investing in passive foreign investment companies
June 7, 2022 | Many inbound assignees to the United States do not realize their investment portfolio may contain “passive foreign investment companies” (PFICs) that are subject to special, punitive tax rules in the United States. In this episode, Washington National Tax’s Martha Klasing highlights the PFIC tax regime and stresses the importance of pre-arrival tax counseling sessions to ensure assignees can plan around these rules.
Participating in a non-U.S. pension
June 2, 2022 | In this episode, Washington National Tax’s Martha Klasing discusses the potential U.S. tax consequences for assignees in the United States participating in or taking distributions from their home country pension arrangement.
Financing and selling a non-U.S. residence
May 24, 2022 | Inbound assignees to the United States are often surprised by the U.S. tax consequences of selling their residence in their home country. In this episode, Washington National Tax’s Martha Klasing highlights a potential tax trap for inbound assignees selling their homes: foreign currency exchange gain.
Becoming a U.S. tax resident: What does it mean?
May 17, 2022 | In this episode, Washington National Tax’s Martha Klasing provides an overview of the U.S. federal income tax consequences of establishing U.S. tax residency.
IRS guidance on withholding taxes paid by employer
April 26, 2022 | In this episode, Washington National Tax’s Martha Klasing provides an overview of the IRS’s Chief Counsel Advice Memorandum regarding tax-equalized assignees and the related income taxes paid by the employer as part of the tax equalization program.
Foreign exchange gain/loss proposals in the Biden 2023 budget
April 8, 2022 | In this episode, Washington National Tax’s Martha Klasing provides an overview of the proposals contained in the Biden Administration’s FY 2023 budget that are designed to simplify the foreign currency exchange gain and loss rules for individuals.
Tax proposals in the Biden 2023 budget
April 1, 2022 | In this episode, Washington National Tax’s Martha Klasing provides an overview of some of the income tax proposals contained in the Biden Administration’s FY 2023 budget that would impact individual taxpayers and the cost of international assignments if enacted. For additional information and analysis on the Biden Administration’s tax agenda, please see KPMG’s dedicated TaxNewsFlash page.
Foreign housing cost limitations
March 23, 2022 | In this episode, Washington National Tax’s Martha Klasing shares her observations with respect to IRS Notice 2022-10, which provides for adjustments to the limitation on housing expenses for purposes of section 911 of the Internal Revenue Code for the 2022 tax year. For additional details, please see GMS Flash Alert 2022-047.