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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…

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Foreign Life Insurance Taxation 2019 – IRS Compliance in 5-Easy Steps

Foreign Life Insurance Taxation 2019 – IRS Compliance in 5-Easy Steps Foreign Life Insurance Taxation: When U.S. persons have life insurance policies abroad, foreign life insurance taxation FBAR and FATCA reporting becomes very important. What is a Foreign Life Insurance Policy? Foreign Life Insurance Policies are life insurance policies that are based overseas. They are…

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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,…