The Internal Revenue Service (IRS) coordinates with global banking and financial systems and foreign governments to discover when U.S. taxpayers have failed to report foreign investments, […]
In 2009, the IRS introduced the Offshore Voluntary Disclosure Program (OVDP), which enabled taxpayers to receive reduced penalties – notably, protection from criminal liability – for […]
The acronym “FATCA” refers to the Foreign Account Tax Compliance Act. FATCA, which was passed by Congress in 2010 as part of the Hiring Incentives to […]
Tom Wallis has lived in France since his birth 40 years ago in Grenoble, a city located in the country’s southeastern region. Yet despite spending a […]
Wire Transfer Audit & Potential FATCA Penalties: This Page at a Glance Understanding how international financial holdings affect American taxpayers is a difficult process, even when […]