International Oversight

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Presti & Naegele's

International Oversight

At Presti & Naegele, we empower individuals and businesses through expert advisory services. With personalized guidance, we build enduring partnerships and contribute to sustained success.

P&N provides international oversight for foreign individuals and businesses with comprehensive accounting and tax compliance in the U.S.  Foreign individuals operating in the U.S. may need to file specific tax forms to comply with tax regulations.  We help our foreign clients navigate the U.S. tax system explaining tax obligations, including federal, state and local taxes.

We can assist in determining tax residency.  Assessing whether a client qualifies as a U.S. tax resident based on factors like days spent in the U.S. and visa status.

This form is essential for corporations to fulfill their tax obligations accurately.  In compliance with U.S. law and in conjunction with the filing of corporate tax returns, the corporation must also file Form 5472. This form ensures transparency regarding financial transactions involving foreign owned U.S. corporations.

Individual Taxpayer Identification Number (ITIN)

As an IRS approved ITIN Agent.  P&N is authorized by the IRS to assist taxpayers in obtaining an Individual Taxpayer Identification Number (ITIN).  As an ITIN agent we have the authority to review, process and issue ITIN numbers.  Foreign individuals who do not qualify for a Social Security Number but need a tax identification number for U.S. tax purposes require an ITIN.  Common scenarios include nonresident aliens, dependents of U.S. citizens or residents, and individuals with U.S. tax obligations.

Foreign Investment in Real Property Tax Act (FIRPTA)

P&N assists our clients navigate the complexities of FIRPTA.  The Foreign Investment in Real Property Tax Act is a U.S. federal law that pertains to the taxation of foreign individuals or entities when they dispose of U.S. real property interests.  This includes various scenarios, such as sales, exchanges, liquidations, gifts, transfers, or redemptions of U.S. property. FIRPTA ensures that foreign individuals or entities pay taxes on gains from U.S. real estate transactions.

We provide valuable guidance in FIRPTA transactions assisting with compliance and optimizing tax outcomes for both buyers and sellers.