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US Reciprocity to Improve Under FATCA? Perhaps

July 2016

US Reciprocity to Improve Under FATCA? Perhaps was published by the Daily Business Review on 7/1/16. On May 5, Treasury Secretary Jacob J. Law wrote to U.S. House Speaker Paul

  • Daily Business Review
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FinCEN Form 114 (FBAR) and IRS Form 8938 – Clearing the Air

June 2016

There seems to be some confusion regarding who must file a Report of Foreign Bank and Financial Accounts (FBAR) and who must file form 8938 Statement of Specified Foreign Financial Assets. This is not a surprise. While both forms are

  • Foodman CPAs & Advisors
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Taxpayers Have 10 Bills of Rights

June 2016

Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. The Taxpayer Bill of Rights (also known as TABOR) groups the existing rights in the tax code into ten fundamental

  • Foodman CPAs & Advisors
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“Spider Webs”, “Panama Papers” and IRS

June 2016

“Spider Webs”, “Panama Papers” and IRS was published by JD Supra on 6/13/16. IRS has asked involved U.S. taxpayers to come forward before IRS reads and dissects the “Panama Papers”. IRS will “plan how to use the huge trove of

  • JD Supra
STANLEY I. FOODMAN

10 Rules for Stress-Free Foreign Bank Accounts

June 2016

Closing your foreign bank account today will not necessarily solve your disclosure problem. On the contrary, it could make things worse under the current regulatory environment. Here is what you need to do in order to have stress-free foreign accounts:

  • The Yucatan Times
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Don’t Let The I.R.S. Define Your Conduct As Willful, or Else…

June 2016

Don’t Let The I.R.S. Define Your Conduct As Willful, or Else… was published by JD Supra on 6/1/16. Something that most of us don’t realize is that Internal Revenue Service has stated that the taxpayer is responsible to learn IRS

  • JD Supra