US Tax Law & Compliance Navigating the 2026 Tax Landscape The United States has one of the most complex tax systems in the world. For high-net-worth individuals, business owners, and new immigrants, mistakes can be costly. With the passage of the “One Big Beautiful Bill Act” affecting the 2026 tax year, the rules have changed. Wang Law PLLC provides strategic tax planning to minimize liability while ensuring strict compliance with IRS regulations. 🚀 New for 2026: Major Tax Breaks No Tax on Tips Service industry workers and business owners take note: You can now deduct up to $25,000 of qualified tips from taxable income. Car Loan Interest For the first time in decades, interest paid on personal auto loans is deductible (up to $10,000 annually). Overtime Deduction Hourly workers can deduct certain overtime pay, up to $12,500 (single) or $25,000 (joint). Our Tax ServicesPre-Immigration Tax Planning Becoming a “US Person” subjects your worldwide income to US tax. We help EB-5 and L-1 investors structure their assets before getting a Green Card to minimize global tax exposure.FATCA & FBAR Compliance Do you have over $10,000 in foreign bank accounts? Failure to file FinCEN Form 114 (FBAR) carries draconian penalties. We handle voluntary disclosures and annual reporting.Business Entity Structuring C-Corp, S-Corp, or LLC? The choice affects your liability and your tax rate. We advise on the optimal structure for both domestic operations and foreign subsidiaries.IRS Audits & Disputes Receiving an IRS notice can be terrifying. We represent clients in audits, negotiate Offer in Compromise (OIC) settlements, and handle penalty abatement requests. The “Worldwide Income” Trap Unlike most countries, the U.S. taxes based on citizenship and residency, not just location. If you hold a Green Card, you are a “US Tax Resident” even if you live in China or Europe. You must report income from your foreign businesses, foreign rental properties, and foreign investments. Foreign Tax Credit (FTC) We help you utilize Foreign Tax Credits and the Foreign Earned Income Exclusion (approx. $126,500 for 2025) to avoid double taxation.Need a Tax Review? Don’t wait for an audit. Let us review your previous returns and your current asset structure for compliance and savings. Schedule Consultation Strategic Planning. Peace of Mind. Whether you are navigating the new 2026 deductions or planning a cross-border business expansion, Wang Law PLLC is your partner in tax compliance. Email Consultation Book Appointment