December 10, 2019

Are You Required to Report an Offshore Goldmoney Account to the IRS?

Goldmoney describes itself as “a global leader in precious metal custody, and the world’s largest precious metals network.” According to the company’s website, Goldmoney currently protects […]
October 24, 2019

FTB Grants Income Tax Filing Extension to California Wildfire Victims

In October 2019, a series of wildfires erupted across Riverside and Los Angeles Counties, prompting California Governor Gavin Newsom to declare a state of emergency. If […]
October 3, 2019

What Are the U.S. Tax Implications of Receiving Gifts from Foreign Citizens?

When one individual gives property to another without receiving payment in return, the property is generally considered to be a “gift” for tax purposes. Depending on […]
September 29, 2019

How Have IRS Budget Cuts Affected Federal Tax Enforcement?

The Internal Revenue Service has been hamstrung by a series of budget cuts in recent years, with its workforce shrinking by more than 15% from 2013 […]
September 25, 2019

What Are the Options for Former U.S. Citizens Who Are Ineligible for the New IRS Expat Relief Procedures?

Earlier this September, the IRS announced new relief procedures, aptly named the “Relief Procedures for Certain Former Citizens,” for U.S. expats with histories of non-willful income […]
September 24, 2019

IRS Making Limited-Time Settlement Offers to Eligible Taxpayers Involved in Micro-Captive Insurance Fraud

If you have participated in micro-captive insurance schemes, the following information may impact you directly. Earlier this month, the Internal Revenue Service posted an announcement stating […]