The Biden administration has reactivated a long-delayed immigration program for early-stage international entrepreneurs. The International Entrepreneur Rule (IER) is intended to benefit the US economy by filling a gap in US immigration options for individuals who are positioned to develop high-growth potential start-up companies. Under the IER, qualified entrepreneurial foreign nationals will be eligible to

For decades the US Department of Justice (DOJ) has investigated and prosecuted individuals for violations of the Foreign Corrupt Practices Act (FCPA) and other US federal laws with an extraterritorial focus, even if the conduct transpired outside the United States.  For experienced people doing business across borders, that is not a new topic.  However, what may be unknown to some executives, entrepreneurs, and others is the possibility of also running afoul of the US Internal Revenue Service (IRS) and DOJ Tax Division.

Many corporate executives in China, India, and elsewhere studied at universities in the United States and obtained US citizenship or permanent resident status before returning to their native country to start their own business or to rise up the ranks at an existing company.  There are also many native-born Americans working and living overseas.  This is notable because US citizens and permanent residents are subject to US federal income tax on their worldwide income no matter where earned.  In the author’s experience, having practiced in Hong Kong for several years, this reporting obligation has not historically been widely understood by many expats.  IRS enforcement mechanisms, such as the Foreign Account Tax Compliance Act (FATCA) and tax information exchange agreements, are improving but there is still a very large “tax gap” of unreported tax liability.  Some expats living abroad gamble that the IRS will not uncover their noncompliance, while others are simply unaware of or confused about their reporting obligations.Continue Reading US Tax Compliance Adds to Risks for US Citizens, Permanent Residents Abroad

Many foreign nationals have found themselves unexpectedly unable to depart the United States due to the COVID-19 pandemic. This presents a particular challenge for individuals present in the United States under the Visa Waiver Program (VWP), often referred to as ESTA, a category which precludes standard status extension options. In response to COVID-19, the US