CPA-Led Guidance for Complex Cross-Border Tax Matters
U.S. tax obligations do not end when you leave the country. Citizens and green card holders living abroad, foreign nationals with U.S. filing requirements, and professionals moving between the United States and other jurisdictions can face complex U.S. tax compliance and reporting rules.
Baccus Consulting provides CPA-led U.S. expat tax preparation, planning and cross-border tax guidance for individuals and closely held businesses navigating income, financial accounts, investments, assets and equity compensation across borders.
We serve Americans abroad and internationally connected taxpayers through a secure virtual process, including clients relocating to or from New York and New Jersey.
- U.S. expat tax preparation and worldwide-income compliance, including Foreign Earned Income Exclusion and Foreign Tax Credit planning
- FBAR, FATCA and foreign asset reporting, including PFIC exposure involving foreign investments
- Equity compensation and RSU taxation for taxpayers moving into or out of the United States
- Direct guidance from a CPA advisor experienced with multi-jurisdictional matters
Why Cross-Border Tax Situations Require Specialized Attention
The United States taxes citizens and green card holders on worldwide income regardless of where they live. That single fact creates a chain of additional obligations, elections and reporting requirements that domestic tax preparation does not typically address. When income, accounts, investments or equity compensation cross national borders, the interaction among these rules can materially affect filing positions, penalty exposure and long-term planning decisions.
Worldwide income, the Foreign Earned Income Exclusion and the Foreign Tax Credit
U.S. citizens and green card holders generally must report income earned anywhere in the world. The Foreign Earned Income Exclusion and the Foreign Tax Credit are the two primary mechanisms for reducing double taxation, but each carries its own eligibility tests, dollar limitations and interaction effects. Choosing the wrong approach, or switching between them without understanding the consequences, can create an unnecessary tax cost. For a full walkthrough of these rules, see our guide to U.S. taxes for Americans living abroad.
FBAR and FATCA reporting
Taxpayers with foreign financial accounts or assets may face two separate and frequently confused reporting regimes. FBAR applies to foreign financial accounts above certain thresholds, while FATCA applies to a broader range of specified foreign financial assets reported on Form 8938. The two have different thresholds, different filing mechanics and different penalty structures, and missing either one can be costly. Our article on FBAR versus FATCA reporting requirements explains the distinction, the thresholds and the penalty exposure in detail.
Streamlined Filing and offshore compliance procedures
Taxpayers who discover they missed FBAR, FATCA or foreign income reporting requirements are not automatically facing the maximum available penalties. The IRS Streamlined Filing Compliance Procedures allow eligible taxpayers whose noncompliance was non-willful to catch up on delinquent returns and FBARs under reduced penalty terms, through separate tracks for taxpayers residing inside and outside the United States. Eligibility depends on demonstrating non-willful conduct, meeting residency and other program requirements, and filing correctly before the IRS identifies the noncompliance independently.
Because eligibility and the willfulness determination carry real consequences if assessed incorrectly, this analysis should be completed before any amended or delinquent returns are filed. We help clients assess eligibility, prepare the required certification and coordinate the delinquent filings under the applicable track.
Foreign investments and PFIC exposure
Foreign mutual funds, pooled investment vehicles and certain foreign retirement or investment accounts can trigger Passive Foreign Investment Company rules. PFIC treatment can produce punitive tax and interest charges if left unaddressed, and the available elections must generally be made on a timely basis to avoid the least favorable outcome. See foreign investments and U.S. tax rules for a fuller explanation of how these rules apply to U.S. investors and expats.
Equity compensation across borders
Employees who move into or out of the United States while holding RSUs, stock options or other equity awards face a distinct sourcing problem. Vesting and grant dates may fall in different countries, and without careful allocation, the same equity income can be taxed twice. Our guide to RSU taxation for expats moving to the U.S. addresses allocation, treaty considerations and how to address or mitigate potential double taxation. Taxpayers with equity compensation tied to New York should also review our Section 83(b) election and New York stock option tax guide and our broader equity-based compensation tax guide.
Complex International Tax Matters We Address
Our work is especially suited to situations where several cross-border tax issues intersect. Depending on the engagement, we assist with matters such as:
- Foreign Earned Income Exclusion and Foreign Tax Credit planning and elections
- FBAR and FATCA compliance, including late or missed filings
- PFIC identification, elections and reporting for foreign investment holdings
- RSU, ISO, NSO and ESPP taxation for taxpayers relocating internationally
- Double-taxation relief under applicable income tax treaties
- Foreign rental property income and related reporting
- Form 3520 and other foreign trust or gift reporting obligations
- Streamlined Filing Compliance Procedures and evaluation of corrective filing options for missed FBAR, FATCA, foreign income or other information reporting
- State tax exposure for expats who retain ties to a U.S. state
- Previously filed returns requiring a targeted professional review or correction
The appropriate tax treatment depends on the underlying facts, treaty position and records. Technical conclusions, return review and recommendations are provided only under an engagement agreement.
Have a complex international tax situation?
Tell us what you need help with. We will assess the likely scope and explain the appropriate next step.
Who We Serve
Americans Living Abroad
U.S. citizens and green card holders residing outside the United States who need annual compliance, FEIE or FTC planning, and coordination with any foreign tax obligations they may already have.
Foreign Nationals with U.S. Filing Obligations
Individuals with U.S. residency ties, U.S.-source income, or U.S. filing requirements arising from time spent in the country, visa status or asset ownership.
Employees With Cross-Border Equity Compensation
Professionals and executives who received RSUs, ISOs, NSOs or ESPP shares in one country and vested, exercised or sold them after relocating, and who need help avoiding double taxation on the same equity income. Read our RSU taxation guide for expats moving to the U.S. Professionals holding non-qualified stock options granted abroad should also review our cross-border NSO taxation guide for grant-to-vesting sourcing rules.
Investors With Foreign Accounts and Assets
Taxpayers holding foreign bank accounts, brokerage accounts, foreign mutual funds or other specified foreign assets who need FBAR and FATCA compliance and PFIC exposure assessed.
Taxpayers Relocating To or From New York and New Jersey
Expats returning to or leaving the New York and New Jersey area carry both federal cross-border considerations and state residency questions. Learn more about our CPA tax and advisory services in New York and CPA tax and advisory services in New Jersey.
Why Work With Baccus Consulting?
Integrated Tax and Financial Perspective
Baccus Consulting is led by Jamiu Bakare, CPA, EA, CFA. This tax, IRS representation and financial-analysis background supports the evaluation of cross-border income, investments, equity compensation and other financial decisions with related U.S. tax consequences.
CPA-Led, Personalized Service
We do not treat cross-border returns as production-line work. Engagements are individually scoped, and clients work with a CPA advisor who seeks to understand the relevant facts, jurisdictions, treaty positions and objectives.
Secure Virtual Delivery Worldwide
Our virtual model allows us to serve U.S. expats and internationally connected taxpayers across many countries and time zones. Documents are exchanged through a secure client portal, and meetings are conducted remotely across time zones.
Transparent, Scope-Based Pricing
Individual tax preparation starts at $650, while international and cross-border engagements are priced according to the required forms, jurisdictions, foreign reporting obligations, elections and technical analysis. Multi-state individual returns start at $1,200, comprehensive individual tax services start at $1,500, and highly complex tax matters and representations start at $6,000.
Final pricing is confirmed after we understand the relevant income, accounts, investments, entities, jurisdictions and filing history.
Review Baccus Consulting’s pricing and service tiers.
Trusted by Individuals, Professionals and Business Owners
How the Engagement Process Works
- Describe your situation. Submit a brief inquiry identifying the service you need and the principal issues involved.
- Attend a discovery consultation. We discuss your needs, timing and apparent complexity to determine whether Baccus Consulting is the right fit. The discovery consultation does not include technical analysis or document review.
- Review the proposed scope. If we agree to proceed, you receive an engagement agreement describing the services, responsibilities and fee.
- Complete secure onboarding. You upload the required records through our secure client portal.
- Receive the agreed service. We prepare and review the return or advisory deliverable and discuss relevant matters with you before completion or filing.
For a broader overview of our filing, planning and consultation services, visit our main Tax service page.
Frequently Asked Questions
Do you work with U.S. citizens living anywhere in the world?
Yes. We serve U.S. citizens and green card holders living in many countries through a secure virtual process, subject to applicable engagement and service restrictions.
What is the difference between the Foreign Earned Income Exclusion and the Foreign Tax Credit?
Both reduce double taxation on foreign income, but they work differently and are not always interchangeable. The appropriate choice depends on income type, foreign tax rates and other facts. We evaluate this as part of a properly scoped engagement.
Do I need to file both FBAR and FATCA?
Possibly. FBAR and FATCA are separate reporting regimes with different thresholds and forms. Many taxpayers with foreign accounts have obligations under both. See our FBAR versus FATCA guide for a detailed comparison.
What happens if I invested in a foreign mutual fund?
Foreign pooled investment vehicles can trigger PFIC rules, which carry their own reporting requirements and elections. Failing to identify a PFIC holding can result in a significantly less favorable tax outcome. We help clients identify PFIC exposure and evaluate available elections.
Can RSUs be taxed twice if I move to or from the U.S.?
Without proper allocation, the same equity income can be taxed by more than one jurisdiction. We help clients evaluate allocation rules, foreign tax credits and available treaty relief to mitigate potential double taxation on RSUs and other equity awards.
I missed prior FBAR or FATCA filings. What are my options?
Depending on the facts, there may be corrective filing options available. This is a fact-specific analysis that should be reviewed before any filing is submitted. Technical conclusions are provided only under an engagement agreement.
Am I eligible for the Streamlined Filing Compliance Procedures?
Eligibility depends on whether your prior noncompliance was non-willful and whether you meet the residency and other requirements of the applicable track. This determination should be made carefully before any filings are submitted, since it affects which procedure applies and the resulting penalty exposure. We assess eligibility as part of a properly scoped engagement.
Do I still owe New York or New Jersey tax if I live abroad?
It depends on your residency and domicile status at the time the income was earned. Expats with New York or New Jersey ties should also review our state-specific guidance on our New York and New Jersey pages.
Discuss Your International Tax Needs
Tell us about your situation. We will contact you to discuss the apparent scope, timing and appropriate next step.
Related Services
- Tax Services
- CPA Tax Consultation
- CPA tax and advisory services in New York
- CPA tax and advisory services in New Jersey
- Pricing and Engagement Scope
Related Insights
- U.S. Taxes for Americans Living Abroad
- FBAR vs FATCA: Foreign Account Reporting Requirements, Thresholds and Penalties Explained
- Foreign Investments & U.S. Tax Rules: What Investors Need to Know
- RSU Taxation for Expats Moving to the U.S.
- Section 83(b) Elections in New York: Stock Options, Restricted Stock and Residency Rules
- Equity-Based Compensation: Key Tax and Wealth Planning Considerations
- Alternative Minimum Tax: What Triggers It and How to Plan