201709.26
0

Bitcoin & FATCA (8938) – Specified Foreign Financial Asset Reporting

Bitcoin & FATCA Bitcoin is no longer a “secret currency.” It has become a mainstream form of currency used for many different purposes. While oftentimes Bitcoin is used to provide anonymity for individuals engaging in various different types of deals, the majority of these deals are legal and above-the-table transactions. Even though Bitcoin is often used for…

201709.26
3

Foreign Life Insurance Taxation (2018) – IRS Foreign Life Insurance Basics

Foreign Life Insurance Taxation (2018) – Is Life Insurance Taxable? Foreign Life insurance Taxation has multiple layers to it. There are issues involving excise tax on the premiums, growth within the fund, and distributions. Key questions we receive involving Foreign Life Insurance tend to involve: Is Foreign Life Insurance Taxable? Is Foreign Life Insurance Reportable?…

201709.25
0

IRS Foreign Business Reporting – Offshore Entity International Tax

IRS Foreign Business Reporting So…you thought having your business offshore meant no taxes, no IRS meddling, and secrecy — and now you learned the truth, and regret ever taking your business abroad? Whether it was because you received a FATCA Letter, learned about FATCA Reporting through the grapevine, informed about your requirement to file Forms 5471,…