The Wolf Group, PC 4401 Fair Lakes Court, Suite 310, Fairfax, VA Tel: (703) Nexia International Global Mobility Tax Services Task Force Dale Mason The Wolf Group, PC Washington, DC

Global Mobility Tax Services  Help clients manage the income tax and social security aspects of international assignments: Home/Host country tax compliance Assignment structuring Tax equalization/tax protection policies Tax treaty issues

Global Mobility Tax Services  Build the Brand  Build the Network  Build on Success

Global Mobility Tax Services Build the Brand

GMTS Brochure (Front)  Available on Nexia website in Adobe Illustrator format Contact information and logo can be changed

GMTS Brochure (Back)

Global Mobility Tax Services: Overview Managing the tax and social security aspects of expatriate employees can be highly complex and time consuming. There are a myriad of potential issues to be considered before the assignment commences, including: Structuring the assignment Tax equalization policies Understanding tax treaties and foreign tax credits Maintaining social security coverage Tax compliance in home and host countries Re-integration into the home country tax regime It is important that both you and your senior employees have peace of mind, knowing that their tax and social security aspects have been dealt with, leaving your employees free to concentrate on the business aspects of their assignments. This requires specialist advice from advisers who understand your needs and the needs of your expatriate employees. How We can Help The Nexia network of experienced expatriate tax specialists will provide you with integrated tax and social security advisory and compliance services from pre-assignment to post-departure. GMT News GMT Conference in Paris on November 1 st USA IRS announces Second Amnesty Program on FBAR France to impose tax on foreign-owned second homes Dutch expatriate tax scheme to be amended MORE… Subscribe to our newsletter Contact Us Dale Mason, CPA +1 (703)

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Global Mobility Tax Services Build the Network

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Global Mobility Tax Services Forum  Paris, France  Held before the Annual Conference on Nov 2, 2011  Purpose:  To provide members with an interest in expanding their expatriate tax work an opportunity to meet with one another  To focus on expatriate tax training and socializing

Global Mobility Tax Services Secondments  Grant Miller – The Wolf Group Tax Senior Secondment to Saffery Champness International Practice in October, 2011  The Wolf Group – Secondment to The Wolf Group March/April 2012

Global Mobility Tax Services Build on Success

U.S. International Tax Crackdown  U.S citizens and residents (Green Card Holders) must report worldwide income to the U.S. government No matter how long they reside outside the United States  Information reporting of foreign financial assets also required

Foreign Bank and Financial Account Reports (“FBARs”)  Form TD F by June 30 th of following year  Informational report  Who must file an FBAR? U.S. citizens and residents Financial interest or signature authority Foreign financial account(s) Aggregate exceeding $10,000 at any time during the year  Law enacted First year of enforcement !

FBAR – Potential Penalties  Penalties for FBAR non-compliance are harsh Willful: o The greater of $100,000 or 50% of the account balance for each year of non-compliance Non-willful: o $10,000 for each year of non-compliance  Potential criminal prosecution © 2011 The Wolf Group

Report of Foreign Bank and Financial Accounts (“FBAR”)  2011 IRS Offshore Voluntary Disclosure Initiative FBAR and certain international tax reporting Pay all taxes and interest Penalty: 25% of the highest account balance Penalty: 12.5% if unreported foreign account < $75K  August 31, 2011 deadline

Global Mobility Tax Services Recent Successes  Sten Guensel & Dale Mason - FBAR  Wolf/Iyer…U.S. Expat Tax Services Singapore Joint Venture