Contents1 Domestic Voluntary Disclosure2 Steps for Making a Voluntary Disclosure Under the Revised Guidelines2.1 1. Make a pre-clearance request2.2 2. Submit required voluntary disclosure documents2.3 …
When a U.S. person receives a gift from a foreign person in excess of $100,000, the transaction triggers a Form 3520 filing requirement. There are …
Texas is a community property state, which means that all “community property” is owned jointly and equally by both spouses. In Texas, all property accumulated …
“FATCA” (Foreign Account Tax Compliance Act) requires specified individuals to report ownership of specified foreign financial assets if the total value exceeds the applicable reporting …
When a husband and wife sign a joint tax return, each spouse is jointly and severally liable for all taxes relating to that year. Where …
In this article are the IRS’ internal procedures for investigations of FBAR violations as found in the IRM. After a foreign bank reports the non-compliant …
If you are a US citizen or tax resident, you may have a foreign bank account reporting obligation. This often catches many immigrants to the …
You want to sell your primary residence, but you rent part of it and don’t know how that affects your taxes. Or you’ve converted your …
Taxation of Canadian investments in the U.S. can be complicated. It can even be difficult to find a tax advisor who can properly report these …
The Foreign Investment in Real Property Tax Act (FIRPTA) was enacted in 1980 in order to impose a tax withholding requirement on foreign persons disposing …