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Foreign Income

August 6, 2020

Does the IRS Share Voluntary Disclosure Information with State or Local Authorities?

In recent years, the IRS has greatly expanded its voluntary disclosure program, where taxpayers who have committed intentional or unintentional violations of the tax code can […]
May 12, 2020

U.S. Continues to Crack Down on Offshore Bank Account Compliance Amid COVID-19

According to a Department of Justice press release, Israel’s largest bank recently pleaded guilty to charges relating to its willful provision of assistance to Americans attempting […]
April 21, 2020

Tax Relief Procedures for Certain Former Citizens

When it comes to requiring people to pay taxes, the IRS only considers whether or not you are a United States citizen, not where in the […]
March 20, 2019

Federal Court Reject Defendants FBAR Regulation Arguments, Affirms $1 Million Penalty

A recent case that was decided in Connecticut illustrates how large penalties relating to the failure to disclose the existence of foreign bank accounts can become. […]
April 26, 2018

Tax Changes for U.S. Expats Under the Tax Cuts and Jobs Act (TCJA) of 2017

The Tax Cuts and Jobs Act (TCJA) was signed into law by President Trump in December 2017. The TCJA ushers in a slew of dramatic changes […]