201511.30
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Foreign Bank Account Reporting (OVDP & FATCA) – International Tax Lawyers

Whether it is compliance with FATCA (Foreign Account Tax Compliance Act), CRS/GATCA (Common Reporting Standard otherwise known as Global Account Tax Compliance Act) or FBAR Compliance (Report of Foreign Bank and Financial Account) worldwide international tax enforcement is on the rise. Although under FATCA, U.S individuals and businesses have a requirement to disclose their foreign…

201511.30
0

FATCA | Intergovernmental Agreements (IGA) – International Tax Lawyers

When it comes to FATCA (Foreign Account Tax Compliance Act) there is a lot of misinformation and lack of guidance on the Internet. For most people, when they read the acronym FATCA, they immediately have visions of being interrogated by the Internal Revenue Service, losing their status in the United States and possibly having to…

201511.27
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OVDP and FBAR – International Tax Representation Lawyers

When it comes to international tax compliance, things can get very confusing, very fast. There are a number of different acronyms and terms to consider and the IRS does not make it any easier. For the unsuspecting taxpayer who was simply conducting a Google search, comes across the term “FATCA,” learns that they might be…

201511.27
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FATCA, GATCA (CRS) & OVDP | Increased Risk – International Tax Lawyers

With the enforcement of FATCA (Foreign Account Tax Compliance Act) and many overseas banks concerned about the ramifications of assisting taxpayers with avoiding bank account disclosure to the United States, even more foreign banks have joined the “bad bank list” otherwise known as “Foreign Financial Institutions or Facilitators.” Worse yet for unsuspecting taxpayers residing overseas,…

201511.24
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IRS Passport Revocation and Denial For Unpaid Taxes | International Tax Lawyers

While it used to be that “custom holds” were the main weapon used by the government to interrupt international travel for individuals who may have significant tax liabilities (especially involving international and offshore accounts), the IRS has upped the ante. There is a law currently pending that would actually deny and/or revoke passports to individuals…