Has the Internal Revenue Service (IRS) contacted you about your tax return? If you’ve received one of those daunting letters, you need to take action quickly. Here are five important components you need to know about Foreign Bank Account Reporting (FBAR) amnesty: Have You Received a Letter from the IRS? Five Critical Aspects of the…
Thanks to improved technology, communication, and transportation, people are finding rewarding opportunities all over the world. Unfortunately, as traditional boundaries come down, newer and more complex concerns take their place. One of these concerns is offshore tax evasion. FATCA 101: What It Is and How to Avoid Steep Penalties was last modified: June 25th, 2015…
In 2010 the Foreign Account Tax Compliance Act (FATCA) was enacted. The purpose of FATCA is to discourage tax evasion by U.S. citizens who have bank accounts and investments offshore in other countries. FATCA means it is very important for US tax payers with accounts overseas to get their tax filings submitted correctly or they…
US International Tax Advisors (USITA) is the go-to expert for tax advice and services in the Metro DC area, nation-wide and the rest of the globe. Many of our international clients turn to us when they are faced with issues on information storage services, international business consulting, litigation and investigations, and international tax compliance in…
