How the IRS Investigates FBAR Violations
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 …
Foreign Bank Account Reporting under the Bank Secrecy Act (FBARs)
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 …
Canadian Investments and U.S. Tax Compliance
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 …
What’s Reported on the FBAR?
Foreign Bank and Account Reporting on the FBAR If you are a US citizen or tax resident, you may have a foreign bank account reporting …
5 Things You Should do if You have Unreported Foreign Income
5 Things You Should do if You have Unreported Foreign Income Learn about what to do if you have unreported foreign income and accounts. Non-Compliance …
Foreign Investment in Real Property Tax Act (FIRPTA)
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 …
Tax Guide for Expatriates and Foreign Nationals
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 …
Penalties for Failing to Report Foreign Assets
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 Planning for Foreign Investors
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 …
Taxpayers Receiving FATCA Forms from Foreign Banks
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 …