Streamlined Filing Program for U.S. Taxpayers Residing Outside of the U.S. continues to be available but can be Discontinued at any time!
Streamlined Filing Program for U.S. Taxpayers Residing Outside of the U.S. continues to be available but can be Discontinued at any time! was published by JD Supra on 2/27/19. After the closing of the Offshore Voluntary Disclosure Program (OVDP) – which ended on September 28, 2018, the US Department of Treasury released a Memorandum on […]
Disclosing Voluntarily to the IRS to potentially avoid Criminal Prosecution is still an Option for Taxpayers, but with some changes going forward……
Disclosing Voluntarily to the IRS to potentially avoid Criminal Prosecution is still an Option for Taxpayers, but with some changes going forward was published by JD Supra on 2/5/19. On September 28, 2018, the IRS closed the Offshore Voluntary Disclosure Program (2014 OVDP). The 2014 OVDP (and prior 2011 and 2009 programs) had the purpose […]
U.S. Taxpayers living Abroad – Tax News Update
Tax News Update for U.S. Taxpayers living Abroad was published by JD Supra on 2/5/19. Passport The IRS ability to deny or revoke the Passports of Taxpayers with “seriously delinquent tax debt greater than $50,000” is a distressing problem currently being encountered by U.S. Taxpayers. The IRS is authorized to certify a Taxpayer’s seriously delinquent […]
¿Es hora de que las Instituciones Financieras Extranjeras contraten Representación ante el IRS?
¿Es hora de que las Instituciones Financieras Extranjeras contraten Representación ante el IRS? was published by JD Supra on 2/5/19. El Oficial Responsable (“RO”) de una Institución Financiera Extranjera Participante (“PFFI”) o una Institución Financiera Extranjera (“FFI”) Modelo 2 de Reporte estuvo obligado a presentar la Certificación FATCA de la FFI de las Cuentas Preexistentes […]
Four LATAM Countries will work as a TEAM to TACKLE TAX EVASION, Corruption and Other Financial Crimes
Four LATAM Countries will work as a TEAM to TACKLE TAX EVASION, Corruption and Other Financial Crimes was published by JD Supra on 1/29/19. The Global Forum and the Organization for Economic Cooperation and Development (OECD) oversee the internationally agreed standards of tax transparency and exchange of information via the Common Reporting Standard (CRS). The […]
Tenga Cuidado con la Campaña de Precisión de Presentación de FATCA del IRS
Tenga Cuidado con la Campaña de Precisión de Presentación de FATCA del IRS was published on 1/23/19. El 30 de octubre del 2018, la división Internacional y de Grandes Empresas del IRS (“LBI”) anunció la aprobación de una campaña de cumplimiento que incluye cómo las Instituciones Financieras Extranjeras (“FFIs)) y ciertas Entidades Extranjeras No Financieras […]
No Ponga en Peligro su Pasaporte: ¡El Departamento de Estado de los Estados Unidos se mantiene indemne!
No Ponga en Peligro su Pasaporte: ¡El Departamento de Estado de los Estados Unidos se mantiene indemne! was published by JD Supra on 1/23/19. La habilidad del IRS de poder negar o revocar los Pasaportes de los Contribuyentes con “deuda tributaria gravemente morosa” es un problema serio que actualmente enfrentan los Contribuyentes de los Estados Unidos. […]
Don’t Jeopardize Your Passport: The US State Department Is Held Harmless!
Don’t Jeopardize Your Passport: The US State Department Is Held Harmless! was published by the Daily Business review on 1/8/19.
Offshore Accounts Today Equal Transparency
Offshore Accounts Today Equal Transparency was published by JD Supra on 12/18/18. The days of avoiding taxes through hiding money or assets in unreported offshore accounts are gone. Nonetheless, there are still taxpayers with undeclared offshore accounts, as well as the banks and bankers that are suspected of helping clients hide their reportable assets overseas. […]
What is Tax Evasion?
What is Tax Evasion? was published by JD Supra on 12/7/18. The IRS TAX CRIMES HANDBOOK states that there are two kinds of tax evasion: (a) the willful attempt to evade or defeat the ASSESSMENT of a tax, and (b) the willful attempt to evade or defeat the PAYMENT of a tax. Meaning, if a […]
How to determine an Individual’s Residency for Tax Treaty Purposes?
How to determine an Individual’s Residency for Tax Treaty Purposes? was published by JD Supra on 12/7/18. The guidelines for determining an Individual’s tax residency are as follows: An Individual Taxpayer is a resident based on the laws of one treaty-partner country and is considered to be a resident of that country for treaty purposes. […]
Foreign Trusts and the IRS
Foreign Trusts and the IRS was published by JD Supra on 11/21/18. A Foreign Trust can be a legitimate instrument for US Taxpayers that may have family members in foreign jurisdictions, have foreign business interests or are the beneficiaries of trusts created in other countries. Trusts are vehicles that can assist in the preservation of wealth […]
