New Zealand and United States Tax Consultants
IRS problems?
Call us today. We are available to assist with all kinds of IRS issues including filing, penalties, tax advice.
Please call 09-5255931 or email us at enquiries@nzustax.com if you would like to make an appointment.
We don’t just deliver taxation services.
We bring peace of mind.
When you work with us, we become your tax partner. You can rest assured you won’t pay more tax than you need to. We work with NZ-based wealth advisers to minimize the tax element of your portfolio.
Choosing a tax specialist is not something you do every day so we’ve made it easy.
ARTICLES
Trusts classification: what you don’t know can hurt you!
Are you getting the classification of your trust correct for US tax purposes? In 2018 the Internal Revenue Service started a campaign targeting foreign trusts’ failure to comply with the filing requirements of US owners[1] of foreign trusts, including ownership, and transactions with a foreign trust. For US expats it is a minefield requiring an experienced US tax practitioner to guide them through.
read moreUS Tax principles tested in 2018 Tax Court Case
Gina Gatchell examines a Tax Court case of Virginia-based taxpayers Toso & Salman which tested several US tax principles. These affect all US citizens and residents.
read moreAssist Taxpayers to Comply – AICPA plea to the IRS
The American Institute of Certified Public Accountants (AICPA) penned a letter to the IRS just prior to Friday’s announcement of the end of the shutdown, citing the AICPA’s concerns around the ensuing effects of the IRS shutdown on taxpayers and practitioners.
read moreIf your tax situation is complex and involves multi-jurisdiction tax law, foreign tax and currency regulations, and potential gray areas, then you need a specialised tax service that offers you access to strategic tax advice and experts who can make judgment calls based on extensive experience.
Auckland-based NZ US Tax Specialists Ltd is a boutique Tax Advisory and Accountancy firm, providing international tax services to
- United States citizens living in New Zealand who have personal or corporate tax obligations in the US,
- New Zealand citizens based in the United States who have personal or corporate tax obligations in New Zealand,
- Organizations that have multi-jurisdiction tax requirements and obligations, and
- High net worth individuals (HNWI) who require tax expertise.
Q & A with our Experts
Q
We purchased our home in New Zealand and have just sold it and repaid our mortgage. With respect to the repayment of the mortgage are there any US tax implications we need to be concerned about?
A
No. Whilst certain foreign currency-denominated debt instruments are subject to Internal Revenue Code provisions requiring foreign currency gain and/or losses to be recognized as ordinary income, the disposition of a foreign financial instrument by an individual, provided the instrument was acquired for personal use, will not give rise to recognizable foreign currency gain or loss on disposition.
LATEST NEWS
Internal Revenue Service reopened
The Internal Revenue Service reopened on Monday, January 28, 2019, after a 35-day shutdown.
read moreIRS Status – Lengthy Call Centre Wait Times
The IRS reopened on Monday 28 January. Call centre wait times, including the international calling number, are typically around 2 to 3 hours....
read moreReactivation of IRS functions to begin
Reactivation of IRS functions should, in the absence of any information to the contrary, begin to occur next week. This advice came amid Friday’s news that the US government shutdown was over, at least for three weeks. In order for this to occur, according to the Lapsed Appropriations Contingency Plan (Tax Year 2018 Filing Season), funds will need to be appropriated for the IRS to continue its mission.
read moreWhat our Clients Say
Thanks for all your help with this year’s tax preparation and all my questions. You’ve been great to work with.
EF, 16th October 2018
Our premium service is tailored to individuals, families, trusts and organizations that expect and appreciate highly personalised, discreet and professional tax services delivered by specialists who are technically competent in New Zealand and US tax law and financial regulations.
We offer three major categories of tax accounting and advisory services delivered by fully qualified, experienced in-house professionals:
- New Zealand tax return preparation and filing
- US tax return preparation and filing
- International taxation advice
Clients who use both our NZ and US tax services benefit from our holistic approach to tax law compliance, but we can tailor our service offering to meet individual client’s needs, attending to all their requirements personally since we never outsource.
Our strategies will reduce or limit the impact of taxes on your income, assets and investments while remaining fully compliant with tax law and financial regulations.
