Surco tax lawyer
For individuals and businesses in Surco, Peru, with US tax obligations, Law Offices of SRIS, P.C. provides US tax legal services. Whether you are a US citizen living in Surco, a Peruvian resident with US-source income, or a business with cross-border operations, our US-admitted attorneys handle federal and state tax matters, including IRS audits, foreign account reporting, and tax planning. For Peru tax issues, the firm collaborates with Martín Mayandía, Of Counsel, who is admitted to practice law in Peru (2009) and is 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.
How a US tax lawyer assists clients in Surco, Peru
US tax law applies to US citizens and residents worldwide, as well as to foreign persons with US-source income. A Surco resident who is a US citizen must file annual US tax returns and report worldwide income, including Peruvian bank accounts, rental income, and business profits. The Foreign Account Tax Compliance Act (FATCA) and the Report of Foreign Bank and Financial Accounts (FBAR) impose reporting obligations on US persons with foreign financial assets. Our US-admitted attorneys guide clients through these requirements, helping to avoid penalties and resolve IRS disputes.
For Peruvian residents who are not US citizens but receive US-source income—such as dividends from US corporations, rental income from US real estate, or income from a US trade or business—US withholding and filing obligations may apply. We advise on the applicable US tax rules, including the sourcing of income, effectively connected income, and the branch profits tax. When a matter involves both US and Peruvian tax law, the firm’s US-admitted attorneys handle the US side, while Martín Mayandía, Of Counsel, admitted in Peru (2009) and not admitted in any US state bar, addresses the Peru-law aspects. This collaboration ensures that each jurisdiction’s requirements are met without any attorney practicing law where they are not admitted.
Frequently asked questions
Do I need a US tax lawyer if I live in Surco but have US income?
Yes, if you have US tax filing or reporting obligations, a US tax lawyer can help you comply with US law. US citizens and resident aliens are taxed on worldwide income regardless of where they live. Even if you are not a US citizen, US-source income may be subject to US tax. A US tax lawyer can determine your filing requirements, prepare or review returns, and represent you before the IRS if an audit or collection matter arises.
What is the FBAR requirement for US persons with bank accounts in Peru?
US persons with foreign financial accounts exceeding $10,000 in aggregate must file FinCEN Form 114 (FBAR). The FBAR is an annual information report, not a tax, but failure to file can result in significant civil and criminal penalties. The reporting threshold applies to the total value of all foreign accounts, including those in Peru. Our US-admitted attorneys assist with FBAR compliance, including delinquent filings and IRS voluntary disclosure programs.
How does the US tax system treat foreign tax credits for Peruvian taxes?
US taxpayers may claim a foreign tax credit for income taxes paid to Peru, reducing US tax liability on the same income. The credit is generally limited to the US tax attributable to foreign-source income. Proper documentation and calculation are essential. Our US tax lawyers help clients maximize the foreign tax credit while ensuring compliance with IRS rules, including the sourcing of income and the allocation of deductions.
Can a US tax lawyer help with IRS audits for a Peruvian resident?
Yes, a US tax lawyer can represent a Peruvian resident in an IRS audit or examination. The IRS may audit a return that reports foreign income or claims foreign tax credits. Representation includes responding to IRS inquiries, providing documentation, and negotiating settlements. Our US-admitted attorneys handle IRS audits for clients in Surco and throughout Peru, working with local counsel when Peruvian tax records are needed.
What is FATCA and how does it affect me as a Surco resident?
FATCA requires foreign financial institutions to report US account holders to the IRS, and US persons to report certain foreign assets. If you are a US person with accounts at a Peruvian bank, that bank may report your account to the IRS under FATCA. You may also need to file Form 8938 with your US tax return. Our US tax lawyers advise on FATCA compliance and help resolve any resulting IRS inquiries.
Does the US have a tax treaty with Peru?
The United States and Peru do not have a comprehensive income tax treaty. As a result, US tax rules apply without treaty modifications, and double taxation relief is generally limited to the foreign tax credit. Our US-admitted attorneys can explain how the absence of a treaty affects your specific situation and help you plan accordingly.
What US tax issues arise for a Peruvian business with US operations?
A Peruvian business with US operations may be subject to US income tax, branch profits tax, and withholding obligations. The US taxes the effectively connected income of a foreign corporation engaged in a US trade or business. Additionally, payments from the US entity to the Peruvian parent may be subject to withholding. Our US tax lawyers advise on structuring US operations to minimize tax exposure while complying with US law.
How can I resolve a US tax debt while living in Surco?
You can resolve a US tax debt through IRS payment plans, offers in compromise, or other collection alternatives. The IRS can pursue collection against US citizens abroad, including liens and levies on US assets. Our US-admitted attorneys negotiate with the IRS on behalf of clients in Peru, seeking the most favorable resolution available under the Internal Revenue Code.
What is the difference between a US tax lawyer and a CPA for cross-border matters?
A US tax lawyer provides legal advice, attorney-client privilege, and representation in IRS disputes, while a CPA focuses on tax preparation and accounting. For complex cross-border issues involving legal interpretation, IRS audits, or criminal tax exposure, a tax lawyer is essential. Our US-admitted attorneys work with CPAs and Peruvian tax advisors to provide comprehensive service.
Do I need to report my Peruvian rental income on my US tax return?
Yes, US citizens and residents must report worldwide rental income, including from property in Peru. You may deduct expenses such as mortgage interest, property taxes, and depreciation, subject to US rules. Foreign taxes paid on the rental income may be creditable. Our US tax lawyers help ensure proper reporting and maximize allowable deductions.
Can a US tax lawyer help with US estate tax for a Peruvian resident?
Yes, a US tax lawyer can advise on US estate and gift tax rules for Peruvian residents with US assets. US estate tax may apply to US-situs property, such as real estate or stock in US corporations, owned by a non-US citizen. Our US-admitted attorneys assist with estate planning, including the use of qualified domestic trusts and other strategies to minimize US estate tax exposure.
How do I get started with a US tax lawyer for my Surco-based matter?
Contact Law Offices of SRIS, P.C. at (888) 437-7747 to schedule a consultation. We will discuss your US tax situation, identify the relevant issues, and explain how our US-admitted attorneys can assist. If your matter involves Peruvian tax law, we will coordinate with Martín Mayandía, Of Counsel, admitted in Peru (2009) and not admitted in any US state bar, to ensure the Peru-law aspects are properly addressed.
About Mr. Sris and the Of Counsel network
Mr. Sris, Owner and Founder of Law Offices of SRIS, P.C., is admitted to practice law in Virginia, Maryland, the District of Columbia, New Jersey, and New York. He leads the firm’s US tax practice, drawing on over 120 years of combined legal experience across the firm’s Of Counsel network. For Peru tax matters, 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. The firm’s principal location is in Virginia, and consultations are by appointment only.