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Looking for CPA with international experience

Posted by (Bay Area, California) on

Hello:

May I ask if you know of a CPA who knows how to assist US taxpayers with foreign investments? There are specific forms to be filled and can be quite complex. I am not an expat but applied for the Portuguese Golden Visa. Part of it's requirement is to invest in a Portuguese investment fund. I need to disclose this to the IRS.

I heard that the pool of experienced CPAs in this field is small and therefore would appreciate referrals even if they are not from California, where I live. Thank you!

Posted by
16415 posts

If you are simply investing in a fund that is overseas, the only thing you need to disclose to the IRS is income from the fund and any foreign taxes paid.

Any CPA should be able to do this. If you have one, check with yours.

Posted by
1638 posts

@Frank: this passive fund is neither listed nor domiciled in the US. For those who know this topic, it is a PFIC.

The filing requirements are more extensive. I was in a conference call with an international tax firm and they told me to hire CPAs who have the relevant experience. They did say that 95% of CPAs probably aren't suitable, because this type of investment is uncommon for most Americans. I could of course hire a tax lawyer, but that would be prohibitively expensive.

Posted by
422 posts

HI Barkinpark, I just sent you the name of the CPA firm I work for (in Admin though, not tax). Although I am in Massachusetts, we have offices in California and an entire Global Tax Department.

Hope this helps in your search.

Joann

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