International Tax Expertise for Miami’s Global Community
Miami is one of the most internationally connected cities in the United States. Thousands of residents and business owners here have financial ties to Latin America, the Caribbean, Europe, and beyond. These international connections create complex tax obligations that many accountants are not equipped to handle.
At E Alex Ortiz, CPA, PA, international tax is not a sideline – it is a core specialty of our practice. We help Miami clients navigate the intersection of U.S. tax law and international reporting requirements, ensuring full compliance while minimizing your tax burden through proper planning and available treaty benefits.
FBAR & Foreign Account Reporting
If you have financial accounts outside the United States with an aggregate value exceeding $10,000 at any point during the year, you are required to file a Report of Foreign Bank and Financial Accounts (FBAR) using FinCEN Form 114. This includes bank accounts, investment accounts, mutual funds, and certain insurance policies held abroad.
The penalties for failing to file an FBAR are severe – up to $10,000 per violation for non-willful violations, and potentially much higher for willful noncompliance. Many Miami residents with family accounts in Latin America or business accounts overseas are unaware of this obligation until it is too late. We help clients come into compliance, file delinquent FBARs through proper channels, and establish systems to stay compliant going forward.
FATCA Compliance & Form 8938
The Foreign Account Tax Compliance Act (FATCA) requires U.S. taxpayers with specified foreign financial assets above certain thresholds to report those assets on Form 8938, Statement of Specified Foreign Financial Assets. The thresholds vary based on filing status and whether you reside in the U.S. or abroad.
FATCA and FBAR have overlapping but different requirements, and many clients are confused about which forms they need. We ensure you file everything required – nothing more, nothing less – and maintain proper documentation to support your filings.
Foreign Tax Credits & Treaty Benefits
If you pay income tax to a foreign government, you may be able to claim a foreign tax credit on your U.S. return to avoid double taxation. We analyze your foreign tax payments, determine whether a credit or deduction is more beneficial, and properly complete Form 1116 to maximize your tax savings.
The United States has tax treaties with dozens of countries that can reduce withholding rates, exempt certain types of income, or provide other benefits. We identify applicable treaty provisions and ensure they are properly claimed on your return.
Cross-Border Business Tax Planning
Miami businesses with operations, suppliers, or customers in other countries face unique tax challenges including transfer pricing rules, controlled foreign corporation (CFC) reporting, Subpart F income, GILTI (Global Intangible Low-Taxed Income), and foreign-derived intangible income (FDII) deductions.
We work with business owners to structure their international operations tax-efficiently, comply with all reporting requirements, and plan ahead for changes in international tax law. Whether you import goods from Colombia, export services to Brazil, or have a subsidiary in the Caribbean, we understand the tax implications and help you navigate them.
Expatriate & Dual-Status Tax Returns
U.S. citizens and green card holders living abroad are still required to file U.S. tax returns and report worldwide income. We prepare expatriate returns, help clients claim the Foreign Earned Income Exclusion (Form 2555), and coordinate U.S. filing obligations with foreign tax requirements.
For individuals who arrived in or departed from the U.S. during the tax year, we prepare dual-status returns that properly allocate income between resident and non-resident periods.
Bilingual International Tax Service
International tax matters are complicated enough without a language barrier. Our Miami office provides all consultations, document reviews, and communications in both English and Spanish. This is especially important when reviewing foreign-language financial documents and coordinating with institutions in Latin America.
ITIN Applications – Certified Acceptance Agent
Our firm is an IRS Certified Acceptance Agent (CAA), authorized to verify identity documents and submit ITIN applications (Form W-7) directly. If you or a family member needs an Individual Taxpayer Identification Number, you can apply at our Coral Gables office without mailing your original passport to the IRS. We examine your documents, certify copies, and return your originals the same day.
This is especially valuable for Miami’s international community, where many families need ITINs for spouses, dependents, or nonresident individuals with U.S. tax obligations. Learn more about our ITIN application services.
Need an International Tax Specialist in Miami?
Contact us to discuss your international tax situation. We help individuals and businesses with foreign income, assets, and cross-border transactions.