Cusco tax lawyer
Law Offices of SRIS, P.C., a US law firm founded in 1997, assists clients in Cusco, Peru, with US tax matters. Mr. Sris, the firm’s owner and managing attorney, is admitted to practice in Virginia, Maryland, the District of Columbia, New Jersey, and New York. For Peru-law tax issues, the firm collaborates with Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar; his role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm. All US-law aspects are handled by Mr. Sris and the US-admitted attorneys of the firm. Reach the firm at (888) 437-7747.
How a US Tax Lawyer Can Assist Clients in Cusco, Peru
US citizens, lawful permanent residents, and certain other US persons living in Cusco remain subject to US federal income tax on their worldwide income. The Internal Revenue Code requires annual filing of a US tax return, even if all income is earned in Peru. The firm helps clients navigate these obligations, including the FBAR (Report of Foreign Bank and Financial Accounts) and FATCA reporting requirements. We also assist with IRS audits, collection matters, and tax planning for US persons with Peruvian assets or business interests.
For clients who need advice on Peruvian tax law—such as local income tax, value-added tax (IGV), or municipal taxes in Cusco—the firm works with a Peru-admitted Of Counsel. That attorney handles the Peru-law side, while Mr. Sris and the firm’s US-admitted attorneys manage all US-law aspects. This collaboration ensures that cross-border tax issues are addressed without any attorney practicing law in a jurisdiction where they are not admitted.
Frequently Asked Questions
What US tax obligations do I have if I live in Cusco, Peru?
US citizens and resident aliens must file a US federal income tax return annually, reporting worldwide income, regardless of where they live. The IRS requires Form 1040, and you may need to file additional forms such as the FBAR (FinCEN Form 114) if you have foreign financial accounts exceeding certain thresholds. The firm can help you determine your filing requirements and prepare the necessary returns.
Do I need to file a US tax return if I am a Peruvian citizen with US-source income?
Yes, if you receive US-source income—such as rental income from US property, dividends from US corporations, or compensation for services performed in the US—you may have a US tax filing obligation. The specific requirements depend on the type and amount of income, as well as any applicable tax treaty provisions. The firm can review your situation and advise on your US tax responsibilities.
How does the firm handle both US and Peru tax issues?
The firm handles US tax matters directly through its US-admitted attorneys, and for Peru tax matters, it collaborates with a Peru-admitted Of Counsel. This division ensures that each country’s legal requirements are addressed by an attorney licensed in that jurisdiction. The US-admitted attorneys and the Peru Of Counsel coordinate as needed, but each works within their own licensure. No attorney practices law in a jurisdiction where they are not admitted.
Can the firm represent me before the IRS?
Yes, the firm’s US-admitted attorneys can represent you before the IRS in audits, appeals, and collection matters. This includes responding to IRS notices, negotiating payment plans, and, if necessary, litigating in US Tax Court. Representation is limited to US federal tax matters; the firm does not represent clients before Peruvian tax authorities.
What is the FBAR requirement for US persons with foreign bank accounts?
US persons with a financial interest in or signature authority over foreign financial accounts must file an FBAR (FinCEN Form 114) if the aggregate value of the accounts exceeds $10,000 at any time during the calendar year. The FBAR is filed electronically with the Financial Crimes Enforcement Network (FinCEN). Failure to file can result in significant penalties. The firm can assist with FBAR compliance and, if needed, with voluntary disclosure programs.
How do I report income from a Peruvian business on my US tax return?
Income from a Peruvian business is generally reported on your US tax return as foreign-source income, and you may be able to claim a foreign tax credit for Peruvian taxes paid. The specific reporting depends on the business structure—whether it is a sole proprietorship, a corporation, or a partnership. The firm can help you determine the correct forms and schedules, and can advise on the foreign tax credit under Internal Revenue Code § 901.
Does the firm have an office in Cusco?
No, the firm does not have a location in Cusco or anywhere in Peru. The firm’s principal location is in Virginia, by appointment only. For Peru tax matters, the firm collaborates with a Peru-admitted Of Counsel. Consultations can be arranged by phone or video conference, and the firm can coordinate with the Peru Of Counsel as needed.
How can I schedule a consultation?
You can reach the firm at (888) 437-7747 to discuss your US tax matter. Consultations are by appointment. The firm will assess your situation and, if your matter involves Peru tax law, can arrange for the Peru Of Counsel to participate. All initial consultations are with a US-admitted attorney.
About Mr. Sris and the Of Counsel Network
Mr. Sris, Owner and Founder of Law Offices of SRIS, P.C., is admitted to practice in Virginia, Maryland, the District of Columbia, New Jersey, and New York. He has practiced since 1997 and has extensive experience in US tax matters. The firm collaborates with a network of foreign Of Counsel attorneys, including a Peru-admitted attorney, to address cross-border tax issues. All US-law aspects are handled by Mr. Sris and the firm’s US-admitted attorneys. The firm’s Peru Of Counsel is admitted in Peru and not in any US state bar; that attorney’s role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm.