UHY Advisors and UHY LLP are member firms of UHY International, one of the world’s largest professional service firm organizations.
Members of the UHY International network can be found in over 320 business centers across 98 countries around the world. Click here to view the global directory.
As a member firm of UHY International, one of the top global accounting networks, we have access to resources in virtually every industry and service line in all the major global business centers. Learn more about the cities and countries in which we can help.
For more information, visit UHY International, or contact one of our U.S. based Foreign Desks: China, Mexico and Canada.
The newly enacted Tax Cuts and Jobs Act (the "Act") gave us what some people refer to as "mandatory repatriation" for previously untaxed foreign earnings of specified foreign corporations. In other words, Section 965 of the Internal Revenue Code now requires some taxpayers to pay tax on the untaxed foreign earnings of certain foreign corporations as if the earnings had been repatriated to the United States. This will take effect for the 2017 tax year for a majority of taxpayers.
The Internal Revenue Service announced on March 13 that it plans to end its Offshore Voluntary Disclosure Program (OVDP) on Sept. 28, 2018. The OVDP allowed taxpayers to avoid prosecution by voluntarily disclosing untaxed money held overseas and paying a set penalty. The OVDP, which has been available since 2009, has experienced a significant decline in taxpayer participation as awareness of offshore tax and reporting requirements has increased.
Growth in the number of businesses in the US has been outpaced by many other economies around the world in the last year, reveals a new study by UHY, the international accounting and consultancy network.
The IRS has issued a directive to tax examiners in the Large Business and International Division (LB & I) that taxpayers may use ASC 730 Financial Statements that follow US Generally Accepted Accounting Principles (GAAP) as evidence of their qualified research expenses (QRE's) to reduce the burden of independent determination on both taxpayer and examiner.
The UHY global real estate guide has been developed to provide property investors with information on rules and regulations from over 70 countries featured in the guide, covering areas such as real estate regulations (e.g. deduction of expenses and interests), tax rates (e.g. VAT, wealth tax and inheritance tax) and also touches on some tax planning techniques.