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Evelyn Fernandez, CPA, MST
DIRECTOR - TAX
Evelyn is a Tax Director at KROST. She has been in the public accounting profession for over 15 years. Her areas of expertise include tax planning and compliance for high net worth individuals, international entities and individuals, multi-state taxation, partnerships, S corporations, trusts, nonprofit organizations and entertainment businesses.
Evelyn has extensive experience in working with clients and their attorneys in participating in the Federal offshore voluntary disclosure initiative programs (OVDI). Her experience includes Foreign Bank and Financial Account reporting, foreign trusts, controlled foreign corporations and passive foreign investment companies.
Prior to joining KROST, she was working for a mid-size firm in Miami, Florida.
• KROST, Tax Director
• KROST, Senior Tax Manager
• Morrison, Brown, Argiz & Farra, LLP, Tax Manager
• Deloitte Tax LLC, Tax Staff
• Bachelor of Science in Accountancy & Finance, California State University, Northridge
• Masters in Taxation, Golden Gate University
Evelyn is a passionate long-distance runner participating in multiple marathon events on a yearly basis. She also does CrossFit and participates in various obstacle and mud races like Muddy Buddy, Tarzan’s Cup and Merrell Obstacle Run.
• AICPA & CIMA U.S. International Tax: Advanced Issues
• AICPA & CIMA U.S. International Tax: Inbound and Outbound Transactions
• AICPA & CIMA U.S. International Tax: Core Concepts
Evelyn's Thought Leadership
Foreign-owned domestic disregarded entities have not had filing requirements in the past unless an election was made to treat it as a corporation, known as “check the box.” Disregarded entities are most commonly single-member LLC (SMLLC). Generally, income tax and reporting requirements would not be reported separately. Rather, they would have been reportable on the … Read More
US citizens living abroad and foreign nationals residing in the US are renouncing their citizenship in a record-breaking fashion. During the first three quarters of 2020, the IRS published 5,045 individuals who have made the ultimate decision to expatriate and formally cut ties with the United States. This amount is significantly higher than the numbers … Read More
Navigating the ins and outs of US taxes as a US shareholder of a controlled foreign corporation (CFC) has been complex in the last couple of years due to changes in regulations from the IRS. Taxpayers need tax planning to determine the best strategy to mitigate the CFC’s tax liabilities. In 2019, the IRS and … Read More
Foreign-Derived Intangible Income (FDII) Can Increase Cash Flow for Manufacturing Companies and Distributors with Global Operations
This is a preview of one of the articles in the new KROST Quarterly Manufacturing Issue, titled “Foreign-Derived Intangible Income (FDII) Can Increase Cash Flow for Manufacturing Companies and Distributors with Global Operations” by Evelyn Fernandez, CPA, MST. The Tax Cuts and Jobs Act (TCJA) included several tax changes relating to the US taxation of … Read More
More and more US citizens are moving abroad for various reasons. The move could be work-related, family-related, or simply adventure-related. Technology has also made it possible for many professionals to be able to work from anywhere in the world. Most US citizens aren’t aware of the tax breaks they may be able to get as … Read More
We are happy to announce the release of our newest quarterly magazine! The Manufacturing Issue highlights some of the hot topics in manufacturing, including accounting for PPP, transfer pricing, Foreign-Derived Intangible Income (FDII), R&D tax credits, and more. What You’ll Find Inside This Issue: Accounting for PPP Loans and Forgiveness by Keith Hamasaki, CPA Manufacturers … Read More
If you are a California resident who accepts overseas assignments, or an international employer with California residents working abroad, you should know about the California Safe Harbor. The California Safe harbor is available for certain individuals leaving California under employment-related contracts. The safe harbor provides that an individual domiciled in California who is outside California … Read More
It is not uncommon for U.S. citizens or Green Card holders to come across a situation where they realize they haven’t been entirely compliant with U.S. tax filing requirements. The filing requirements, especially for foreign assets and income, have become so complex that even some tax practitioners don’t know where to start. If you feel … Read More
Below is a preview of one of the articles in the new issue, “IC-DISC Tax Savings on Export Goods or Services” by Evelyn Fernandez, CPA, MST: Interest‐Charge Domestic International Sales Corporation (IC‐DISC) is quite a mouthful, which may be a reason why most people don’t know about this tax incentive. Thousands of businesses are not … Read More
We recently published our new KROST Quarterly Magazine which is packed full of articles and insider knowledge focusing on tech topics. Here is an excerpt from the article “The Basics of Virtual Currency” by Tax Director Evelyn Fernandez, CPA and Tax Staff Justin Ha: “On March 25, 2014, the IRS released Notice 24-21 detailing how … Read More