How Does the IRS Determine “Willfulness”?
Penalties for willful failure to file an FBAR IRC § 5321(a)(5) provides for the imposition of civil penalties for a willful failure to comply with …
Penalties for willful failure to file an FBAR IRC § 5321(a)(5) provides for the imposition of civil penalties for a willful failure to comply with …
Latest FATCA Developments for US Citizens with Foreign Bank Accounts Foreign financial institutions (FFIs) are continuing to send FATCA letters to their US citizen account holders. …
FATCA Forms from Offshore or Foreign Bank Account Foreign financial institutions (FFIs) around the world are continuing to send out FATCA letters or FATCA forms to …
If you are not yet a U.S. tax resident but plan to be in the future, the are some tax strategies that can be used …
For U.S. taxpayers with foreign financial assets or income, there are various applicable penalties for non-compliance. With the exception of willful FBAR penalties, these penalties …
Tax Guide for Expatriates and Foreign Nationals This is a short tax guide on expat tax that covers taxation of expatriates and foreign nationals. This is a specialized …
IRS to Assign Millions of Collections Accounts to Private Debt Collectors The IRS announced several months ago of its plans to assign millions of taxpayer …
Types of IRS Audits Many taxpayers will deal with an IRS audit at some point in their lives. It may be a simple correspondence audit, …
US Citizens Owing Back Taxes Now Getting Passports Revoked More travel complications are in store and it’s not just for foreigners. Under new rules to …
Discharging Tax Debt Under Chapter 7 A common misconception is that federal taxes cannot be discharged through bankruptcy. A Chapter 7 filing can be a very …