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      Cendrowski_Header-Images_RealEstate_CAllOut

      Real Estate Focused Expertise

      Our real estate specialists can assist you with alternative planning techniques, provide advice on transaction structuring, scrutinize tax returns prepared by other firms, and more.

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      Simplifying Equity and Ownership in Construction

      Collaborate with our consultants to simplify the process of using an ESOP to tailor a strong succession plan, build wealth with equity and ownership, boost recruiting and client retention, and more.

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  • About Us
    • Team
      • Harry Cendrowski
      • John T. Alfonsi
      • Kristina M. Borsheim
      • James P. Martin
      • Walter M. McGrail
      • Maureen A. Nulty
      • Louis W. Petro
      • Catherine Raker
      • James F. Schultz
      • Kaitlyn E. Smith
    • Alliances
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  • What We Do
    • Tax
      • Business Tax Services
        • Tax Planning Strategies
        • Tax Planning & Compliance
        • Wealth Transfer & Business Succession Planning
        • Cost Segregation Studies
        • Small Business Stock Gain Exclusion
        • Opportunity Zones Planning
        • Qualified Small Business Stock Planning
        • Tax Controversy
        • Transfer Pricing
      • High Net Worth Tax Services
        • Family Office Tax Structuring & Compliance
        • Generational Succession Planning
        • Gift & Estate Planning
        • Tax Structuring & Compliance
      • Real Estate Tax Services
        • Entity Structuring and Tax Compliance
        • REIT/UPREIT Structuring
      • International Tax
        • Expatriation Compliance
        • Financial Asset Disclosure
        • Tax Planning & Compliance for Foreign Assets
      • Succession Planning
        • ESOP Planning
        • RollUps/UPREITS
        • Buyouts & Compensatory Transfers
    • Advisory
      • Business Valuation Services
        • Financial Reporting
        • Income, Estate & Gift Valuations
        • Intellectual Property Valuations
        • Marital Dispute Valuations
        • Mergers & Acquisitions Valuations
        • Shareholder Dispute Valuations
      • Dispute Advisory
        • Economic Damages Services
        • Expert Witness Testimony
        • Forensic Accounting
        • Financial Disputes & Investigations
        • Marital Dissolution
        • Receivership Services
        • Shareholder Disputes
      • Due Diligence
        • Cybersecurity
        • Enhanced Customer Due Diligence
        • Operational Assessments
      • Family Office Advisory
        • Direct Investment Due Diligence and Valuation
        • Family Governance & Succession Planning
        • Family Office Operational Assessments
        • Operational Assessments for Portfolio Companies
      • Cannabis Services
        • Background Investigations
        • Entity Formation & Startup
        • MMFLA State License Application
        • Tax Return Preparation
      • Private Equity/Venture Capital Advisory
        • Back Office Services
        • Background Investigations
        • Due Diligence
        • Tax Structuring & Compliance
      • Risk Management Services
        • AML Compliance
        • Crisis Management
        • Cybersecurity
        • Enterprise Risk Management
        • Governance Advisory
    • Outsourced Accounting & Finance
      • Interim CFO
        • Strategic Planning
        • Accounting Systems Review/Analysis
        • Succession Planning
      • Outsourced Family Office Services
        • Back Office Support
        • Philanthropic Planning & Administration
        • Family Governance & Succession Planning
      • Client Accounting Services
      • Tax Outsourcing
  • Who We Serve Overview
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    • Professional Services
    • Real Estate/REITs
    • Technology
  • About Us
    • Team
      • Cendrowski
      • Maureen A. Nulty
      • John T. Alfonsi
      • James P. Martin
      • Walter M. McGrail
      • James F. Schultz
    • Alliances
    • Careers
  • Get in Touch
Make a Payment
Make a Payment
Cendrowski Corporate Advisors Logo
  • What We Do
    • Tax
      • Business Tax Services
        • Tax Planning Strategies
        • Tax Planning & Compliance
        • Wealth Transfer & Business Succession Planning
        • Cost Segregation Studies
        • Small Business Stock Gain Exclusion
        • Opportunity Zones Planning
        • Qualified Small Business Stock Planning
        • Tax Controversy
        • Transfer Pricing
      • High Net Worth Tax Services
        • Family Office Tax Structuring & Compliance
        • Generational Succession Planning
        • Gift & Estate Planning
        • Tax Structuring & Compliance
      • Real Estate Tax Services
        • Entity Structuring and Tax Compliance
        • REIT/UPREIT Structuring
      • International Tax
        • Expatriation Compliance
        • Financial Asset Disclosure
        • Tax Planning & Compliance for Foreign Assets
      • Succession Planning
        • ESOP Planning
        • RollUps/UPREITS
        • Buyouts & Compensatory Transfers
    • Advisory
      • Business Valuation Services
        • Financial Reporting
        • Income, Estate & Gift Valuations
        • Intellectual Property Valuations
        • Marital Dispute Valuations
        • Mergers & Acquisitions Valuations
        • Shareholder Dispute Valuations
      • Dispute Advisory
        • Economic Damages Services
        • Expert Witness Testimony
        • Forensic Accounting
        • Financial Disputes & Investigations
        • Marital Dissolution
        • Receivership Services
        • Shareholder Disputes
      • Due Diligence
        • Cybersecurity
        • Enhanced Customer Due Diligence
        • Operational Assessments
      • Family Office Advisory
        • Direct Investment Due Diligence and Valuation
        • Family Governance & Succession Planning
        • Family Office Operational Assessments
        • Operational Assessments for Portfolio Companies
      • Cannabis Services
        • Background Investigations
        • Entity Formation & Startup
        • MMFLA State License Application
        • Tax Return Preparation
      • Private Equity/Venture Capital Advisory
        • Back Office Services
        • Background Investigations
        • Due Diligence
        • Tax Structuring & Compliance
      • Risk Management Services
        • AML Compliance
        • Crisis Management
        • Cybersecurity
        • Enterprise Risk Management
        • Governance Advisory
    • Outsourced Accounting & Finance
      • Interim CFO
        • Strategic Planning
        • Accounting Systems Review/Analysis
        • Succession Planning
      • Outsourced Family Office Services
        • Back Office Support
        • Philanthropic Planning & Administration
        • Family Governance & Succession Planning
      • Client Accounting Services
      • Tax Outsourcing
  • Who We Serve Overview
    • Family Offices
    • Private Companies
    • Public Companies
    • Government Agencies
    • Not-for-profit Organizations
    • Cannabis
    • Construction
    • Estates, Trusts & Private Foundations
    • Financial Services
    • Hospitality
    • Legal
    • Private Equity and Venture Capital
    • Professional Services
    • Real Estate/REITs
    • Technology
  • About Us
    • Team
      • Cendrowski
      • Maureen A. Nulty
      • John T. Alfonsi
      • James P. Martin
      • Walter M. McGrail
      • James F. Schultz
    • Alliances
    • Careers
  • Get in Touch

International Tax

Home » Services » Tax Services » International Tax » Tax Planning & Compliance for Foreign Assets

Tax Planning and Compliance for Foreign Assets

The Internal Revenue Service imposes steep penalties for failing to disclose foreign financial accounts and assets, which makes tax compliance even more critical. The disclosure requirement applies to all U.S. persons. When it comes to foreign financial accounts and assets, many individuals and businesses have misconceptions about when and what they must disclose.

Being proactively informed of the disclosure requirements is the first step toward avoiding those steep penalties. The Cendrowski Corporate Advisors team can guide you through the necessary disclosures related to your unique circumstances.

Professional Tax Return Preparation - International Tax Compliance

For professional tax return preparation involving international taxes, Cendrowski Corporate Advisors tax professionals tailor our work to your needs to help ensure your returns and disclosures comply with your obligations.

If you’re relocating to or from another country, being sent to another country for work, or obtaining a green card, you should know that the U.S. imposes tax on citizenship, not residency. U.S. persons earning income outside of the country still have U.S. tax return filing requirements. Often, those same people have foreign financial accounts and assets which require disclosure on their tax returns.

We develop tax strategies that are compliant with reporting agency requirements, including:

  • W-8 forms
  • Global Intangible Low-Taxed Income (GILTI)
  • Streamlined Disclosures
  • Controlled Foreign Corporations (CFC)
  • Financial Crimes Enforcement Network (FinCen) and Foreign Bank Account Report (FBAR)
  • Foreign Account Tax Compliance Act (FATCA)
CCA_CaseStudy_03
Client Success: Professional Tax Preparation

We were engaged in helping a client meet foreign reporting requirements for their pass-through K-1 tax forms. During the engagement, our consultants discovered that footnotes on the K-1 statements from previous years had not been disclosed on their personal 1040. As a result, the client correctly disclosed indirect ownership in multiple foreign financial assets on form 8938. Failure to properly disclose interests in foreign financial assets on form 8938 may result in penalties of $10,000 per asset. Our analysis of their prior returns saved our client thousands of dollars in fines and ensured that their returns were compliant with the U.S. tax code and federal reporting requirements.

GGI Global Alliance Taps Harry Cendrowski to Chair Estate and Trust Planning Global Leadership Team

Chair Estate and Trust Planning Global Leadership Team Chicago, Ill., and Bloomfield Hills, Mich. (November 4, 2021) – Cendrowski Corporate Advisors today announced its Founder and Managing Director Harry Cendrowski has been elected Global Chairperson of GGI‘s Trust & Estate Planning Practice Group. He will serve a three-year term ending in 2024. GGI announced the […]

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CCA Joins Geneva Group International (GGI)

Cendrowski Corporate Advisors Joins Geneva Group International’s Global Accounting, Legal, and Consulting Alliance Chicago and Bloomfield Hills, MI – December 4, 2019 – Cendrowski Corporate Advisors (CCA) – a leading accounting, litigation support, risk management, tax, and compliance consulting firm for public and private companies, family offices, and professional associations – today announced that it […]

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Cendrowski Corporate Advisors Continues Tax Practice Expansion, Catherine Raker Joins the Firm

Bloomfield Hills, MI – September 12, 2019 – Cendrowski Corporate Advisors (CCA) – a leading accounting, litigation support, risk management, tax, and compliance consulting firm – today added Catherine Raker as a Senior Tax Associate to its growing tax group. With close to two decades of expertise in corporate, international, and individual tax matters, as […]

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