As always in our bi-monthly digital business update, we have collected interesting topics relevant to your U.S. subsidiary, such as information about taxes, legislation, visa processing at the U.S. Consulate in Amsterdam, interesting events, and inspiring client stories. We also like to take the opportunity to introduce you to our Bookkeeper, Kambra Bonilla. We have extended our fundraiser for World Central Kitchen to aid the ongoing crisis in Ukraine and invite everyone to participate. We are raising funds to help feed the thousands of families fleeing Ukraine. Food is Hope! On behalf of the entire TABS Team,
Jacob Willemsen | | |
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Corporate Income Tax 2021 Income tax filings are due April 15th for C-corporations (corporations with foreign owners).
TABS can provide support to request a 6-month extension. We can also assist your company with the preparation of figures and documentation required for the extended filing. We can work with our network of third-party CPAs to complete the filing or a CPA of your choice.The request for an extension must be filed by the original deadline and must include payment of any tax liabilities. It will be deemed invalid retroactively if it later turns out that the tax liability was not paid at least 90% by the original deadline (April 15). This can result in significant penalties. | | |
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| ADA and Prop5 Developments in the U.S. The U.S. is known as a litigious society in which a simple mistake can lead to multi-million-dollar claims. Fortunately, it is not as bad as often feared by foreign entrepreneurs, but as with all clichés, there is a bit of truth to be found here. Our business partner Carl M.R. van der Zandt, partner at Wuersch & Gering LLP, discusses two types of litigation risks foreign businesses are often not aware of. - ADA Website Accessibility Litigation
Visually impaired or other disabled individuals can claim that a business’s website violates the Americans with Disabilities Act (ADA) because it falls short of accepted website accessibility standards. Parallel to the ADA, some states have local anti-discrimination laws providing plaintiffs with an additional legal basis for their complaints, like the Unruh Act in California and the City Human Rights Law in New York City. - PROP 65 Litigation
If no exemption applies, businesses must provide a clear warning before bringing products into the California market that includes a listed chemical. There are detailed legal requirements for proper Prop 65 warnings and entrepreneurs should always hire a Prop 65 specialist if their products, including packaging and possible giveaways that come with the product, contain a listed chemical. Prop 65 provisions are enforceable by penalties up to $2,500 per day, per violation. Furthermore, a court may order the product to be removed from the California market. The good news is that with proper preparation these risks can be limited considerably. | | |
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Be Careful Submitting your W-8BEN Be aware of phishing emails that appear to be from the IRS. When applying for an ITIN, people appear to be targeted with an IRS request to fill out a W-8BEN tax status form on receiving a Tax ID number. It looks very professional, but this is phishing. W-8BEN forms are legitimate documents, but the IRS will never ask you to complete and return this form. As part of their ‘vendor onboarding process’ only your client(s) who will be paying your foreign entity money may ask you to complete a W8BEN document. Various information fields have been created that should never be filled in. Do not return any information. It’s identity theft. Click on the link below to see what these emails look like. | | |
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| Work Authorization Easier for Certain Spouses U.S. Citizenship and Immigration Services (USCIS) has changed its employment authorization policies for newly-admitted E-1, E-2, E-3, H-4, and L-2 spouses, which are now granted automatic work authorization upon U.S. admission. All spouses in those visa categories automatically get the work-enabled status when entering, starting January 31st, 2022. | | |
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| EACCNY ‘Moving to the U.S.’ Series Cultural Aspects of Working as a European in the United States Floor Bergshoeff, Business Developer at TABS addressed “Cultural Aspects of Working as a European in the United States” in the European American Chamber of Commerce ‘Moving to the U.S.’ series. Floor: “There are many subtle and less subtle cultural differences when working with an international team. As a Dutch company expanding to the U.S. market, it’s important to prepare for these differences and to adapt to the U.S. culture when building a local team and when working with local employees. I love working with different cultures because it teaches me to view things from a different perspective, which results in valuable new insights for the team.”
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Is Your U.S. Subsidiary Looking for Interns? The Dutch2USA and USA2Holland Internship Programs of the Netherland-America Foundation provide grants to high-achieving, low-income students looking to intern internationally. Among many benefits, international interns add a dimension of international market knowledge, creativity, and new perspectives. With the success of the Dutch2USA program, in which over 100 Dutch students and counting have been awarded grants to intern in the US, the sister program, USA2Holland, seeks to replicate the same with Dutch companies. If you’re interested in hosting an international student, please contact Maggie Maloney, Program Manager at the Netherland-America Foundation, at mmaloney@thenaf.org. | | |
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Visa Processing U.S. Consulate Amsterdam Wednesday, April 13th, 9-10.30 am EST / 3-4.30 pm CET, Webinar by VisaVersa (Dutch spoken) To shed some light on the current situation at the U.S. Consulate in Amsterdam, our business partner VisaVersa is organizing this webinar. The U.S. consulate in Amsterdam has essentially been closed for regular visa processing for most of the past two years. After the travel ban was lifted in the fall of 2021, the U.S. Consulate has slowly opened up its calendar and visa processing for most types of visas has resumed. However, not everything is as it used to be pre-Covid. Wait times for appointments are generally very long. In some cases, alternatives for our clients can be found by securing an appointment at a different consulate or embassy or making use of the mail-in service that the consulate offers. Unfortunately, these alternatives are not available for all visa types and only for a select group of clients. In addition, the situation is very fluid and ‘foreign’ consulates that accept applicants from abroad might choose to cancel that option essentially without notice. One of the key visa types for clients processed at the U.S. consulate in Amsterdam is the E-2 Investment Visa. Although VisaVersa has had clients going for their E-2 appointments at the U.S. consulate in Amsterdam in the past months, it is also becoming clear that in the current situation the wait times for E-1/E-2 visa processing is longer than they’ve ever experienced. The seminar will cover recent experiences with securing appointments for clients (for different visa types) and possible alternatives available. The E1/E2 visa processing will be discussed in some more detail as this is such an important category for clients and NL-US investment in general. | | |
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How to build a team in the U.S. Thursday, April 21st at 2.15-5.30 pm CET in The Hague, the Netherlands (Dutch spoken)
TABS is proud to organize this first in-person event after Covid lockdowns together with our partners VDB Executive Search, VisaVersa, Dutch American Connection, and Goudse Verzekeringen,You have decided to go to the U.S …what are the first steps to building a team? During this event a group of experienced experts will share their do’s and don’ts on building a successful team in the U.S. We’ll start with an immigration update, followed by two workshops focused on building a team in the U.S. and everything that needs to be taken into account and we’ll end the day with a drink and chance to network and connect with the other companies. During the workshops we’ll update you on; - The latest update on current immigration regulations and visa’s for your expat employees.
- How to deal with cultural differences in your Dutch / U.S. team.
- How to attract and retain the right talent for your company.
- What benefits can you offer as a brand new U.S. company.
- What insurances do you need as an expat in the U.S.
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Select USA Investment Summit June 26th-29th, Washington DC
Are you looking to open your first office in the United States or expand your current investments? After two years without an in-person Summit, this is a great opportunity to ramp up your knowledge about doing business in the United States and meet key contacts face-to-face.Â
Learn all about incorporating, visa matters, incentives, and hear the latest trends and opportunities directly from C-level executives, Cabinet Secretaries, and high-level White House officials. All 50 states will exhibit at the Summit, so you can easily walk from one state to the other to gather all the information you need to successfully select the right location for your business. The Summit also provides direct contact to the Department of Energy, State, Transportation, CFIUS, and many other federal agencies. We will have dedicated programs across several industries, for startups to mid-sized companies and multinationals. You will also be invited to a networking event at the Dutch Embassy in DC to meet their network. There will be an extra day for the Dutch delegation in New York City on Thursday, June 30 where TABS will be part of the program. | | |
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| Meet Our Team Member Kambra Bonilla
Bookkeeper Kambra joined TABS 6 months ago. In 2017, she moved to Florida with her husband and began her journey in accounting. A year later she enrolled in school for her Bachelor’s degree in Accounting from Southern New Hampshire University. Since then, she has worked in various positions doing general accounting, tax, and consulting work. Most recently before coming to TABS, she worked with a CPA firm and managed payroll, bookkeeping, and tax preparation. “Getting to work with clients from different countries and backgrounds keep things interesting at TABS, and I enjoy answering bookkeeping questions from their unique points of view.” | | | | |
Success Stories Helping our clients succeed with their business in the U.S. is our core business! Reha-Stim Medtec (Switzerland) markets rehabilitation robotics and premium medical and wellness treadmills. | | |
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