201902.25
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What are the Filing Requirements for FBAR & FATCA?

FBAR & FATCA Filing Requirements: Overview & Summary The IRS has many filing and reporting requirements for reporting foreign and offshore accounts, assets, and investments. The two most common are FBAR Foreign Bank and Financial Account Reporting and FATCA (Foreign Account Tax Compliance Act) What are FBAR & FATCA Filing Requirements The reporting requirements can…

201902.18
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FBAR Willful Blindness – What is Intentional Lack of Knowledge?

FBAR Willful Blindness – What is Intentional Lack of Knowledge? When I was a little scamp running around with my friends – I would always seem to find trouble. My Grandma would ask: If your friends told you to jump off a bridge, would you do it?  …No, Grandma. Here is a perfect example about…

201902.17
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Eligible Deferred Compensation Items & U.S. Expatriation Tax Laws

Eligible Deferred Compensation Items & U.S. Expatriation Tax Laws This is a common question we receive from clients re: Expatriation, so we wanted to try to explain it in plain (relatively plain) “English.”  When it comes time to expatriation from the U.S. and the relinquishing/renouncement of your U.S. Citizenship or Green Card Status – you…

201902.11
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Don’t Let Inexperienced Tax Lawyers Jeopardize Your Confidentiality

Don’t Let Inexperienced Tax Lawyers Jeopardize Your Confidentiality IRS Offshore Disclosure is a very difficult area of law. It requires extensive experience in: Tax Legal Litigation and Complex Audits Dually-Licensed Tax Attorney for IRS Offshore Disclosure A dually-licensed tax attorney is an attorney licensed as both an Attorney, and as either an Enrolled Agent (EA)…

201902.11
2

False Tax Return, Unreported Foreign Income & No FBAR – Jail & Fines

False Tax Return, Unreported Foreign Income & No FBAR – Jail & Fines In late 2018, Israel Birman pled guilty to filing a false tax return. One of the main components of the crime was the failure to report foreign accounts on the FBAR. Specifically, “According to court documents, between 2006 and 2014, Israel Birman…