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.

 IRS status update 

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

Assist 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.

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Treatment of certain foreign currency transactions

Section 988 of the Internal Revenue Code Treatment of Certain Foreign Currency Transactions taxes certain transactions. The general rule is that the disposition of any non-functional currency will be treated as a section 988 transaction. However, there are exceptions, particularly with respect to individuals holding foreign-currency-denominated financial assets and liabilities. Gina Gatchell explains…

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If 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

Reactivation 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.

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What 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.

Tax Service
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NZ US Taxes
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NZ US Tax Specialists
NZ US Tax Specialist
NZ US Taxes
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NZ US Tax Specialists
NZ US Tax Specialist

Our technical expertise is in-house, we never outsource. Call us now to speak with our experts.
+64 9 525 5931