Are you concerned about the high IRS tax rates on a foreign trust? It is important to understand the tax and reporting consequences on this specific type of investment. It may very well be time to evaluate the net value of...more
10/31/2023
/ FBAR ,
Foreign Trusts ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investment ,
IRS ,
OVDP ,
Passive Foreign Investment Company ,
Reporting Requirements ,
Tax Liability ,
Tax Planning ,
Tax Rates
We continue with Part 2 – International Tax Primer for US Taxpayers and Expatriates with one of the most common forms associated with foreign asset and income reporting to the IRS: Form 8938, the Statement of Specified...more
8/28/2023
/ Expatriates ,
FBAR ,
Filing Requirements ,
FinCEN ,
Foreign Assets ,
Income Taxes ,
International Tax Issues ,
IRS ,
PFIC ,
Required Forms ,
Tax Liability ,
Tax Planning
Welcome to part 1 of our Allen Barron International Tax Primer for US Taxpayers and Expatriates. The United States is one of the few countries in the world that taxes its citizens on their worldwide income. US taxpayers are...more
8/24/2023
/ Bank Secrecy Act ,
Expatriates ,
FATCA ,
FBAR ,
Filing Requirements ,
FinCEN ,
Foreign Assets ,
Income Taxes ,
International Tax Issues ,
IRS ,
Popular ,
Required Forms ,
Tax Liability ,
Tax Planning