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Showing posts with label foreign asset disclosure. Show all posts
Showing posts with label foreign asset disclosure. Show all posts
March 30, 2018

GOING TO JAIL FOR NOT PAYING YOUR US TAXES WHILE LIVING ABROAD

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If your earnings from whatever source and from anywhere in the world exceed a certain minimum amount you must file a US tax return with ...
June 19, 2013

G8 Conference Folows US IRS Lead to Eliminate Tax Evaision and Investment Secrecy Abroad

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 The world's rich economies said they would take a tougher stance on fighting money laundering and tax evasion but promised little in ...
May 27, 2013

Will the IRS use the internet, linked in, facebook, etc. to locate expatriate and offshore tax cheaters?

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Will the IRS copy the Swedish Tax Agency tactics to find US offshore tax cheaters? They found out about a Swedish taxpayers offshore activi...
November 10, 2012

U.S. engages with more than 50 jurisdictions to curtail offshore tax evasion

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The US Treasury, announced  that it is engaged with more than 50 foreign country jurisdictions to improve international tax compliance as...
November 4, 2012

Chief of IRS Criminal Investigation Divisions Comes After Those No Disclosing Foreign Accounts and Assets

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 On October 18th, the chief of the IRS’ Criminal Investigation Division, Richard Weber, stated that his 4000 special agents will continue...
September 22, 2012

UAE to Join the Network to Exchange Tax Data with US and Other Countries

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The UAE is expected shortly to join the  OCED which is the network of countries that join have joined together to share economic data which...
September 20, 2012

NO FBAR PENALTY FOR TAXPAYER WHO OPTS OUT OF IRS OFFSHORE DISCLOSURE PROGRAM

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One Taxpayer who opted out of the administrative nightmare of the IRS Offshore Disclosure Program has been assessed no penalties for late f...
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

IRS Adds 9 More Questions and Answers on Form 8938 - Reporting Foreign Financial Assets

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Basic Questions and Answers on Form 8938 (rev 6/7/12)   Q&A   1-14, posted 02-29-12 Q&A 15-23, posted 06-07-12 1. What are...
April 7, 2012

Latest IRS Guidance on When to File Forms 8938 and TDF 90-22.1 (FBAR)

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The IRS has just published further information on when to file forms 8938 (to report foreign financial assets) and TDF 90-22.1 (FBAR) to re...
February 4, 2012

Reporting Foreign Financial Assets

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For your 2011 Tax  Year you may be required to File Form 8938 to Report your foreign financial assets with your tax return. You may also be...
December 30, 2011

Final Form 8938- Statement of Foreign Financial Assets Released

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US Taxpayers including US Citizens, US Permanent Residents, and US Expatriates  may have to file Form 8938 with their US Income tax returns...

FATCA Produces Fear Among US Expatriates and Foreign Banks

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US Expatriates living Abroad and Foreign Financial Institutions are all in fear of the "sledge hammer" rules they must comply wit...
December 15, 2011

IRS Releases Guidance on Foreign Financial Asset Reporting

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The Internal Revenue Service in coming days will release a new information reporting form that taxpayers will use  starting this coming t...