FOREIGN ACCOUNTS COMPLIANCE BLOG

Welcome Sonia M. Lopez

Dunn Counsel PLC welcomes Sonia M. Lopez as a Legal Assistant to our client team.  Sonia grew up in Southeast ...
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United States Income Taxation Of United Kingdom-Based Pension Plans

Many United Kingdom citizens work for part or all of their careers in the United Kingdom, and retire in the ...
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Foreign Accounts Compliance Update

Immigration to the United States continues at a strong pace.  The people coming over tend to be members of the ...
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Internal Revenue Code § 965 and the Streamlined Procedures

Internal Revenue Code § 965, as added by the Tax Cut and Jobs Act of 2017, requires a controlled foreign ...
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Advantageous Abandonment of a U.S. Green Card

If you have the status of lawful permanent resident of the United States (i.e., you are a “green card” holder), ...
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New Law Expands U.S. Government’s Discovery of Americans’ Foreign Accounts

The United States taxes its citizens and residents (“U.S. persons”) on their worldwide income.  U.S. persons commonly used foreign financial ...
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Americans’ Interests in Foreign Accounts Reportable on Form 8938

The United States taxes its citizens and residents on their worldwide income.  Accordingly, the U.S. Internal Revenue Code requires U.S. ...
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The FBAR Filing Requirement

The United States taxes its citizens and residents on their worldwide income.  To evade U.S. income tax, U.S. taxpayers were ...
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Foreign Accounts Compliance Update

The first thing a taxpayer should do who is out of compliance with United States laws concerning foreign financial accounts ...
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VDP—IRS’ Updated Voluntary Disclosure Practice

The Internal Revenue Service ended its Offshore Voluntary Disclosure Program (“OVDP”) effective September 28, 2018. Since then the IRS has ...
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