201808.13
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Australian Superannuation is Pension or Social Security for U.S. Tax

Australian Superannuation is Pension or Social Security for U.S. Tax We havre represented numerous clients from Australia in IRS international reporting matters. And, frequently, one of the most common questions we receive is: “What do I do about my Superannuation?“ Superannuation U.S. Taxation – Analysis We have put together our analysis of whether a Superannuation should be…

201808.13
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FBAR Maximum Penalty is not $100,000, U.S. Court of Federal Claims

FBAR Maximum Penalty is not $100,000, U.S. Court of Federal Claims — OVDP Expires Shortly They say hope springs eternal, but all the wishful thinking in the world is not going to cap your willful FBAR penalties at $100,000 at the US Court of Federal Claims, despite what a few District Courts have ruled –…

201808.12
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How Do I File an FBAR – Important Key Facts About FBAR Filing

How Do I File an FBAR – Important Key Facts About FBAR Filing The FBAR is the Report of Foreign Bank and Financial Account Form (aka FinCEN 114).  Our attorneys have authored countless articles on all the different types of issues involving the FBAR, including: How To File An FBAR FBAR Extension FBAR Willful FBAR…

201808.10
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IRS Coinbase Subpoena, Taxes & Penalties – IRS Pursues Crypto “Crime”

IRS Coinbase Subpoena, Taxes & Penalties – IRS Pursues Crypto “Crime” Recently, the IRS was awarded a subpoena to inspect documents from Coinbase — in order to uncover cryptocurrency related income. Specifically, the IRS is trying to determine: Which U.S. persons own cryptocurrency; Whether it is held on a U.S. or Foreign Exchange;  Has the person sold or…

201808.06
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Expat Taxes (2018) – U.S Tax FAQ Guide, Citizens Abroad Requirements

Expat Taxes (2018) – U.S Tax FAQ Guide, Citizens Abroad Requirements At Golding & Golding, we specialize in international tax and have clients spanning over 60 different countries.  Oftentimes, we represent expats who have relocated overseas for any number of different reasons. A common theme amongst expats is that they no longer have to file…

201808.02
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OVDP Preclearance ENDS on August 24, 2018, Golding & Golding

OVDP Preclearance ENDS on August 24, 2018, Golding & Golding If you are considering entering OVDP (Offshore Voluntary Disclosure Program), it is important to note that if you were seeking to submit a Preclearance letter, the last day to submit a Preclerarance letter is August 24, 2018 (U.S. Time) At the time of this post’s…

201807.31
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Sean M. Golding – Certified Tax Law Specialist, IRS Voluntary Disclosure

Sean M. Golding – Certified Tax Law Specialist, IRS Voluntary Disclosure Our Managing Partner, Sean M. Golding, JD, LLM, EA is the only Attorney nationwide who has earned the Certified Tax Law Specialist credential and specializes in IRS Offshore Voluntary Disclosure Matters. Sean represents clients in: OVDP Streamlined Filing Compliance Procedures Streamlined Domestic Offshore Procedures Streamlined Foreign…

201807.30
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IRS FBAR Reasonable Cause (2018) – FBAR Reasonable Cause 101

IRS FBAR Reasonable Cause (2018) – FBAR Reasonable Cause 101 So, one way or another you learned that you should have been filing an annual FBAR (Report of Foreign Bank and Financial Account Form) aka FinCEN 114 form…but you haven’t done so. It killed your buzz, ruined your weekend, and now you are staring at…

201807.30
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FATCA UK – UK FATCA IRS Common Question & Answer Guide (2018)

FATCA UK – UK FATCA IRS Common Question & Answer Guide (2018) Each year, Golding & Golding, A PLC represents numerous clients who are either based in the UK, originally from the UK, and/or have assets, accounts, investments or income from the UK. Common UK and U.S. Tax issues include: Foreign Rental Income Foreign Accounts…

201807.27
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Avoid IRS Revoking Your Passport with IRS Voluntary Disclosure (2018)

Avoid IRS Revoking Your Passport with IRS Voluntary Disclosure (2018) Whether or not it is legal, constitutional, or fair the IRS is beginning to revoke passports for any individual who is in what the IRS considers as “serious tax debt.” Unfortunately, the IRS defines serious tax debt as having more than $50,000 in tax debt, which…