201701.29
0

Increased IRS Audits for Streamlined Disclosure Cases & Certifications

Increased IRS Audits for Streamlined Disclosure Cases & Certifications When it comes time for you to apply to the IRS Streamlined Offshore Disclosure Program there are two main factors to keep in mind: First, you should make sure you negotiated a flat-fee arrangement that includes audit representation, and Second — that you utilize a dually-licensed…

201701.27
0

What Happens if I Do Not Reply to a Bank’s FATCA Request to Certify?

If a person does not respond to their Foreign Financial Institution’s (FFI) FATCA Request, chances are the Foreign Financial Institution will report them to the United States as a U.S. Account Holder. If the IRS realizes that the U.S. person did not properly complete the necessary annual forms such as a FATCA Form 8938, FBAR…

201701.26
3

FATCA Reporting – Foreign Assets | IRS FATCA Reporting

FATCA Reporting – Foreign Assets | IRS FATCA Reporting FATCA Reporting Under the current state of the law, FATCA has become a harsh reality for millions of people. FATCA is the Foreign Account Tax Compliance Act, and it requires both individuals and foreign financial institutions worldwide to report foreign account and “Specified Asset” information to the IRS using…