International Tax CPA Services in New York

Under the Foreign Account Tax Compliance Act (FATCA), taxpayers with specified foreign financial assets that exceed certain thresholds must file IRS Form 8938. This includes foreign bank accounts, investment assets, and interests in foreign partnerships or corporations. The thresholds vary depending on your residency and filing status, but the penalties for noncompliance can be steep. At GTA, we help identify what assets must be reported, evaluate filing thresholds, and submit timely and accurate filings. FATCA compliance is especially important for high-net-worth individuals, dual citizens, and anyone with international holdings.

The FBAR (Report of Foreign Bank and Financial Accounts) is required when the total value of all your foreign financial accounts exceeds $10,000 at any time during the year. FBARs must be submitted annually to the Financial Crimes Enforcement Network (FinCEN), separate from your IRS tax return. This includes accounts you hold, sign on, or have a financial interest in — even if they are joint or business accounts. GTA helps assess filing obligations, prepares FinCEN Form 114, and ensures timely e-filing. We also assist clients with late or delinquent FBAR filings through IRS compliance programs.

Form 2555 allows qualifying U.S. expats to exclude a significant portion of foreign earned income from their U.S. tax return, which can save thousands of dollars annually. The 2025 exclusion threshold is over $120,000 per individual. To qualify, you must meet either the Bona Fide Residence Test or the Physical Presence Test. GTA evaluates your residency, calculates eligible exclusion amounts, and completes all necessary documentation. We also advise on how to pair this with foreign housing deductions and tax treaty benefits for optimal savings.

These international informational returns are required for U.S. taxpayers who have ownership or control in foreign corporations (Form 5471), foreign partnerships (Form 8865), or foreign disregarded entities (Form 8858). These filings are extremely complex and come with high penalties for inaccuracies or failure to file. GTA Accounting Group specializes in cross-border entity reporting and offers full support in compiling and submitting these forms — including analysis of Subpart F income, GILTI (Global Intangible Low-Taxed Income), and attribution rules.

To avoid being taxed twice on the same income, the U.S. has tax treaties with many countries. You may be able to claim a credit for taxes paid abroad using Form 1116 or exclude certain types of income altogether. Our CPAs determine eligibility for foreign tax credits and treaty benefits, ensuring you receive full credit where allowed. We also help interpret treaty-specific rules related to pensions, capital gains, real estate, and professional services.