foreign accounts

March 13, 2020
Photo by Doran Erickson on Unsplash

Treasury Excepts Reporting for Interests in Certain Tax-Favored Retirement and Non-Retirement Savings Trusts in Revenue Procedure 2020-17

Last week, the Treasury Department released Revenue Procedure 2020-17, which provided taxpayers guidance regarding information filing requirements related to certain tax-favored foreign retirement trusts and certain […]
February 27, 2020

Another Swiss Bank Admits to Tax Evasion, Putting More U.S. Account Holders at Risk

Under a series of tax laws, intergovernmental agreements (IGAs), and international treaties, such as the Foreign Account Tax Compliance Act (FATCA), offshore banks are obliged to […]
February 16, 2017
U.S. Owners of Foreign Corporations Faces Tax Penalties Due to Offshore Disclosure Failures, Have Duty to Disclose

U.S. Owners of Foreign Corporations Faces Tax Penalties Due to Offshore Disclosure Failures

While many individuals are now aware that they are obligated to report and make certain disclosures regarding certain offshore accounts, many people do not realize the […]
February 15, 2017
Ownership in Foreign Corporations Can Result in Serious Penalties without Proper Disclosure

Ownership in Foreign Corporations Can Result in Serious Penalties without Proper Disclosure

Over the past decade, it’s come as no surprise that the government has ramped up its enforcement of laws that require U.S. persons to disclose sensitive […]