Florida | Tax Law
1/05/12, 7:38 pm
Legal Question
I live overseas, and have worked for a multinational company. To equalize employment income for the 2 tax jurisdictions, the company withholds part of my income in a Hypotax account. The company pays my host nation employment income tax. Every year, they retain tax specialists to do my taxes and true up how much tax is owed to the 2 jurisdictions. The Hypotax is then released to pay the US Treasury for the US tax liability. This is apparently a standard process most Multinational companies use.
Question: if the company goes bankrupt, does the Hypotax become general liability of the company? If they don't pay my actual US income tax, am I on the hook for the tax?
Share This On:
Legal Answer
|
Read More Answered By: John DeLancett |
|
|
