Taxation is such a complicated field that even the most well-read taxpayer can have a hard time with it. Unfortunately, there is little room for error, and the smallest mistakes can have huge repercussions. 4 Reasons to Hire International Tax Experts from US International Tax Advisors was last modified: June 9th, 2015 by US International…
The Internal Revenue Service (IRS) is becoming stricter on residents, expats, foreign nationals, and financial institutions (foreign and local) that have been failing to properly file their taxes. To prevent, catch, or penalize any instances of non-compliance, the International Tax Compliance Regulations were set in place. Under these regulations, all foreign accounts and offshore assets…
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…
