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Showing posts with label Foreign Asset Reporting. Show all posts
Showing posts with label Foreign Asset Reporting. Show all posts
August 31, 2020

IF YOU CREATE OR ARE A BENEFICIARY OF A FOREIGN TRUST (AND MANY FOREIGN PENSION PLANS) YOU MUST REPORT TO THE IRS OR PAY PENALTIES

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General Rules A U.S. person includes a citizen of the United States, a domestic partnership, a domestic corporation, any estate other than a...
April 10, 2019

Reporting Foreign Bank and Financial Accounts, Foreign Assets on your 2018 Tax Return

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You may be obligated to report your foreign financial accounts on line using form 114. Failure to do so may cause the IRS to assess penalti...
March 25, 2018

Expats and US Citizens Must Report on Special Forms Foreign Assets

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As a US citizen (whether living abroad or not) must report foreign assets if the value exceeds certain amounts on their US Income tax retur...
April 13, 2015

IRS REPORTING REQUIREMENTS FOR THOSE WITH FOREIGN ASSETS

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The Internal Revenue Service  today reminded U.S. citizens and resident aliens, including those with dual citizenship who have lived or wo...
June 13, 2013

FATCA, FBAR, 8938 and Foreign Financial Asset Reporting Seminar in Cabo San Lucas, Mexico on 6/21/13

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FATCA and IRS Foreign Asset Reporting Seminar in Cabo San Lucas on 6/21/13 presented by Intercam and Don D. Nelson, Attorney and CPA - READ...
May 9, 2013

IRS, Australia and United Kingdom Engaged in Cooperative Effort to Combat Offshore Tax Evasion

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The tax administrations from the United States, Australia and the United Kingdom announced today a plan to share tax information involving ...
July 26, 2012

FBAR (TDF 90-22.1) - When is there willful failure to file which leads to highest penalties?

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The  4th District Federal Court has just held that there is willful failure to file an FBAR (TDF 90-22.1) form when you check the box ...
July 8, 2012

US Taxpayers Must Report Foreign Gifts Received

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If you receive over $100,000 a year in foreign gifts (given to you from an individual abroad who is not a US Citizen) or over $14,375 per y...
June 20, 2012

Reporting Foreign Financial Accounts Due Date for Form TDF 90-22.1 (FBAR) is 6/29/12 or 6/30/12

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Your TDF 90-22.1  (FBAR form) where you must report to the IRS your foreign bank and financial accounts must arrive at the designated add...
May 13, 2012

10 IRS Rules for Stress-Free Foreign Financial Accounts

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See the article HERE from Forbes Magazine for these ten rules: Remember financial accounts also  include foreign pension accounts, gold he...
January 26, 2012

Mitt Romney 2010 Tax Return - View it Here and See the Tax Results of His Many Foreign Holdings

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Mitt Romney's 2010 tax return (203 pages)  is a study in  the various IRS Forms required to report foreign income and holdings.  It inc...
November 25, 2011

How Many Wealthy People are there in the US and the World?

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Private Wealth Magazine has published an article that sets worth the number of individuals in the US and the world that are worth $30 mil...
November 21, 2011

Ex-UBS banker sentenced for aiding U.S. tax evasion

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A former senior UBS banker who helped the U.S. government expand its crackdown on offshore tax evasion was sentenced to five years probat...
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September 30, 2011

IRS Releases Draft of Instructions to Form 8938- 2011 Required Tax Form to Report Foreign Financial Assets

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The IRS has released draft instructions to Form 8938. Form 8938 must be filed with your 2011 income tax return to report  Foreign Financial...
September 19, 2011

IRS Voluntary Disclosure after 9/9/11

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Standard Taxpayer IRS Voluntary Disclosure is still available after 9/9/11.   If you missed the 9/9/11 Deadline to enter the 2011 iRS...
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September 15, 2011

CURRENT IRS PROGRESS COMBATING INTERNATIONAL TAX EVASION

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WASHINGTON — The Internal Revenue Service continues to make strong progress in combating international tax evasion, with new details anno...
August 26, 2011

IRS Extends 2011 Voluntary Offshore Disclosure Filing Deadline to September 9, 2011

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Note: Though you may have missed the program which ended 9/9/11, you still can file all past unfiled tax returns including forms 5471, 8865...
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