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January 30, 2012

Singapore is one of Best Places for Your Offshore Business Corporation

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Singapore offers low taxes, stability and lots of other benefits if you are looking at where to locate your Offshore Corporation to conduct...
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India Signs International Tax Treaty to Exchange Tax Info with IRS

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The new treaty will provide for mutual assistance and exchange of information between India and the other members of the Agreement.  One me...
January 26, 2012

Legal & Tax Procedures For US Citizenship Surrender/or Surrender of Green Card by Long Term Resident

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Surrendering your US Citizenship or long term US Residency (holding a Green Card for 8 years or more) is a two step process.   Step one :...

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...
January 22, 2012

IRS Called Easy on Criminal Tax Evaders in Watchdog’s Critique

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Read Article about Criminal Tax Evaders and Voluntary Disclosure Program from Bloomberg Here

US Treasury Issues New FBAR instructons In January 2012

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The new instructions to Form TDF 90-22.1  (FBAR) instructs taxpayers to direct questions to  866-270-0733 (within the US)  and 313-234-6146...
January 17, 2012

2011 Chinese Taxes for Expatriates Living in China

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China Briefing has an excellent article stating the rules for US expatriates living in China with respect to their Chinese Income Tax Fil...
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January 15, 2012

Taxpayer Advocate Office and IRS in vicious fight over Unfair Practices on FBAR Voluntary Offshore Disclosure Program

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The Taxpayer's Advocate Office is still on the side of the Taxpayer. They are in a vicious fight with the IRS over their "bait and...
January 11, 2012

IRS Used "Bait and Switch" Tactics in Prior Offshore Disclosure Programs per the Taxpayer Advocate Office

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This Article from  CNBC describes  the less than ethical actions (or perhaps straightforward)  of the IRS in connection with the 2009 and ...
January 9, 2012

IRS Offshore Programs Produce $4.4 Billion to Date for Nation’s Taxpayers; Offshore Voluntary Disclosure Program Reopens

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  The Internal Revenue Service today reopened the offshore voluntary disclosure program to help people hiding offshore accounts get curre...
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January 5, 2012

IRS Offers in Compromise for Expatriates

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Sometimes, though not often, US expatriates after filing all past returns discover the owe a large amount of  taxes penalties and interest ...

Quick Guide to 2011 Tax Rates and Other Rules

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The AICPA has published a quick guide to tax rates and other specific numbers for tax year 2011.  It is a useful quick guide to calculate y...
December 31, 2011

IRS Uses John Does Summons to Catch Taxpayers Not Paying Taxes

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 With a normal  summons, the IRS seeks information about a specific taxpayer whose identity it knows. A John Doe summons allows the IRS to ...
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 21, 2011

Many Expats may be able to Reduce the Taxes Owed the IRS

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Many taxpayers who owe back taxes, or are now filing a lot of past year tax returns want to know how to "make a deal" with the ...
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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...
December 9, 2011

IRS announces more information on "reasonable cause" excuse and elimination or reduction of FBAR (TDF 90-22.1) late filing penalties.

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The IRS has issued a Fact Sheet for U.S. citizens or dual citizens residing outside the U.S. who may have been unaware of their U.S. tax ...
December 5, 2011

Surrender of your US Citizenship or Loss of Citizenship Can Eliminate Need to File US Tax Returns

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We have assisted hundreds of  US expats with the surrender of their US Citizenship or Permanent Residency. If you go through the process ...
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December 2, 2011

US IRS to go easy on American residents in Canada Per the Globe & Mail

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The U.S. Internal Revenue Service is poised to waive potentially massive penalties for Americans who agree to come clean and don't owe ...