Tax
US Tax Compliance for Foreign Interests & Select Individuals
LCW CPAs assists both foreign entities and select individuals with tax-related matters to be compliant with US tax laws.
Foreign Entities
At LCW CPAs, our goal is to help you maximize your business opportunities while keeping compliance costs and your worldwide effective tax rate as low as possible.
Our accountants are committed to helping you understand foreign tax requirements so you can operate with confidence while saving time and remaining in compliance with each country’s tax rules.
We help you maintain tax compliance in the United States and the countries where you have foreign interests. This includes clients who trade internationally, own offshore businesses, partner with foreign organizations, hold international investments, and/or have business operations in other countries.
LCW CPAs offers the following services for clients with foreign interests:
- International registrations with tax entities
- International banking and finance
- Reducing international tax burden
- Transfer pricing
- Strategic tax planning of cross-border sales and import-export issues
- Tax implications of entity creation or restructuring
- Minimizing international risk
- Understanding international tax systems
If you are looking for a trusted advisor and tax accountant to help you operate with confidence in other countries while keeping compliance costs low and minimizing your worldwide effective tax rate, please contact us.
Select Individuals
LCW CPAs is an IRS-approved Certified Acceptance Agent (CAA) to help select individuals who are not eligible for a social security number to obtain an Individual Tax Identification Number (ITIN).
The Requirements:
Individuals working and earning income in the United States have a tax compliance obligation whether or not they are U.S. residents. Certain foreign and nonresident individuals, their spouses, and children who do not have or are not eligible for a Social Security Number must file the W-7 application to obtain an ITIN to file their income tax returns. There are many scenarios of why one may need an ITIN including spouses seeking to file a joint return and one spouse is a US citizen with a social security number and the other is not a US citizen as one example.
Our Role as a Certified Acceptance Agent
As a Certified Acceptance Agent, LCW CPAs facilitate the application process, authenticate original identifying documents, prepare the application, and submit it to the IRS along with a Certificate of Accuracy letter (W-7 COA), ensuring the application is accurately and thoroughly prepared.
There are four primary benefits of using a Certified Acceptance Agent to obtain an ITIN:
- Security – when a CAA submits the required documentation, the individual does not need to submit their original documents (e.g., passport or VISA). This is a significant benefit of not being without such important documents for many months.
- Accuracy – a Certified Acceptance Agent is trained to identify any issues in the documentation required which reduces the likelihood of errors.
- Efficiency – Applications are processed faster when submitted by a CAA. An individual submitting their own documentation may take up to six months. The chance of rejection is also lower when a CAA submits.
- Convenience – with LCW CPAs as your Certified Acceptance Agent, we are the intermediary between you and the IRS inquiries. We facilitate, track, and respond to all inquiries making it easier for you.
Note, the IRS closely regulates who can be a Certified Acceptance Agent. We have been trained and certified to provide this service to our clients.
If you need an Individual Tax Identification Number (ITIN) to be compliant with US tax laws, please contact LCW CPAs to be your intermediary.
We provide accounting services, tax planning and preparation, audits, reviews, and compilations for individuals and businesses. Our clients are throughout most of eastern Massachusetts, the Merrimack Valley, south down to Woburn, west to Route 495 and east out to the seacoast. In New Hampshire, our clients are throughout Southern New Hampshire including Salem, Nashua, and Manchester, north up to Concord, and east over to the seacoast of New Hampshire.
As a progressive accounting firm, embracing technology to serve our clients effectively and efficiently is a priority to us. We offer consulting services and managed accounting services, including outsourced CFO and bookkeeping services, to businesses throughout the United States.
Why LCW CPAs
We offer many reasons why you should contact us to be your chosen CPA firm.
- We are local. As a local CPA firm, we offer the opportunity to build a working relationship where we get to know you and you get to know us. Maybe this sounds old-fashioned, but to us, it is the best way to work.
- We are progressive. We embrace improving and striving for better ways to help our clients. We utilize technology as an enabler to be more efficient and effective.
- We speak your language. Literally. We have many accountants fluent in multiple languages to best serve our diverse client base.
- We have a long-term view. We look to build relationships over time and seek to work with clients who value the benefits of a productive working relationship. If you are looking to secure a partner in the truest sense of the word, then we may be a great fit.
- We are experienced, credentialed, and knowledgeable. As CPAs, we offer expertise and knowledge to provide thoughtful guidance and advice.
- We offer a superior client experience where in every interaction you will experience our diligence, empathy, responsiveness, and the attention that you deserve. You can count on us to go above and beyond to do the right thing.
- We work with commitment and passion; we believe it is important to be good corporate citizens who are actively engaged in the community; we are especially committed to Gateway Cities including Lawrence to help clients achieve their own American Dream.
For the past 25 years the folks at LCW CPA’s have served my needs both for business entities and personally. The advice provided has been timely and effective. Services have always been thorough and cost-effective.