Complex Entertainment And Sports Proceeds Tax Law Issues
Whenever an entertainer or an athlete travels to or from the U.S. in order to perform, any income earned as part of the performance is subject to U.S. income tax obligations. Even if the trip was only part of a single performance, any income that was derived needs to be accounted for. At the law firm of Kundra & Associates, our entertainment and sports tax attorneys in Maryland can provide legal support and guidance to both U.S.-based entertainers and entertainers residing overseas.
If you are an athlete or an entertainer and are concerned about the tax implications of income earned in the U.S. or abroad, we can help. Contact our Washington, D.C., tax lawyers online or call 301-637-8130 to schedule a meeting to discuss your situation.
Protecting Your Interests And Avoiding Penalties
The global nature of our economy has enabled artists and athletes to share their talents with the rest of the world. Although good for cultural relations, any money made from these performances raise international tax issues that must be considered in order to avoid potentially severe penalties in the U.S.
Non-U.S. based performers that perform in the U.S. will likely have to pay taxes on the income that they have earned from their performances. The same applies to U.S.-based entertainers who perform overseas. Failure to report this income to the IRS can result in significant penalties. The lawyers at Kundra & Associates can provide you with experienced tax advice to help you avoid liability and protect your valuable interests.
Call For A Consultation With A Sports Tax Attorney In Washington, D.C.
It is important to account for any income earned as an entertainer or an athlete in order to avoid IRS penalties. Contact our Maryland entertainment tax lawyers online or call 301-637-8130 to schedule an initial consultation to discuss your situation.