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 […]
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 […]
The Foreign Account Tax Compliance Act (FATCA), a federal tax law passed in 2010, requires U.S. taxpayers and foreign banks to disclose certain offshore accounts and […]
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 […]
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 […]
The IRS frequently releases publications to better inform the public and tax practitioners regarding the agency’s approach to an array of issues. A recent IRS announcement, […]