Foreign Accounts Compliance Blog

Supreme Court Grants Certiorari in Bittner

In United States v. Bittner, the U.S. Court of Appeals for the Fifth Circuit held that the $10,000 penalty for ...
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Michigan Durable Powers Of Attorney

An elderly woman living alone suffers a stroke, and falls.  Later, at a rehabilitation facility, the woman falls again, this ...
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Expatriation From The United States

Renunciation of United States citizenship or abandonment of United States lawful permanent resident (“green card”) status is a major event ...
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United States Income Taxation Of United Kingdom-Based Pension Plans

Many United Kingdom citizens retire in the United States after working in the United Kingdom.  Such individuals’ interests in United ...
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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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