201612.30
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Israel FATCA Letter – Hapoalim, Leumi, Discount, Mizrahi, First International & More

With Israel implementing and enforcing FATCA (Foreign Account Tax Compliance Act) Regulations and banks such as Leumi and Hapoalim actively reporting U.S. Account Holders (aka U.S. Citizens, Legal Permanent Residents, Visa Holders who meet the Substantial Presence Test), it is only a matter of time before the IRS will discover and penalize your Foreign or Offshore…

201612.30
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Form 8854 (2018) – IRS Basics of Expatriate Tax for Green Card Holders

Form 8854 (2018) – Green Card Holders & IRS Expatriation Tax Rules  While may people believe that the Expatriate Tax is something limited to U.S. citizens who decide they are going to renounce their citizenship, that is not the case.  Common IRS Form 8854 issues we handle involve: Renouncing U.S. Citizenship Relinquishing a Green Card…

201612.29
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2020 Simplified Guide for reporting Foreign Investments

A Form 8621 is an Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. It is an IRS Form required to be filed by individuals who have any interest in a Passive Foreign Investment Company — whether or not they received an Excess Distribution, as long as they are not otherwise…

201612.28
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Taiwan Signs FATCA Agreement – Will Report U.S. Taxpayers to the IRS

For the last two years, Taiwan has been operating in accordance with FATCA (Foreign Account Tax Compliance Act) by way of an “Agreement in Substance.” Technically, this means while Taiwan would agree to enforce FATCA, it was not bound to do so. As of December 22, 2016, Taiwan signed a FATCA Agreement with the United…