From the phoenix tax attorney Tag

U. S. Taxpayers With Foreign Assets Have Filing Obligations

The IRS continues to remind taxpayer of their foreign asset filing obligations.  The obligations apply to U.S. citizens, resident aliens, including those with dual citizenship, and those living abroad.  In fact, the filing deadline […]

Matters of the HEART (Act) – Part Four

This is the fourth in a series of blogs discussing the rules for expatriates under the 2008 Heroes Earnings Assistance and Relief Tax (HEART) Act. As previously stated in our prior blogs, there are […]

Matters of the HEART (Act) – Part Two

This is the second in a series of blogs discussing the rules for expatriates under the 2008 Heroes Earnings Assistance and Relief Tax (HEART) Act. There are numerous traps under the HEART Act for […]

What Tax Records do I need and for how long?

We’re often asked about record keeping requirements. So here’s a general overview of what’s required, and for how long. Then we’ll make some recommendations about how to best comply. To establish that expenditures occurred, […]

The IRS Budget and Budget Cuts

The IRS has an annual current budget of about $12 Billion but has been tasked with reducing the budget by about $600 million in 2013. In addition, lots of tax changes and the IRS’s […]

What Impact Will Reducing My Taxes Have on Getting a Loan?

You want to minimize your taxes but you’re also planning on seeking mortgage financing to purchase a home or refinance an existing one. And you’ve heard that you can’t do both. Well, these two […]

Tax Planning Tips for Next Year's Tax Return

For many taxpayers, the tax deadline has passed. But planning for next year can start now. If you’re organized and plan ahead, you can save time and money next year. Here’s a few things […]

Is Foreign Income Taxable?

Believe it or not, US tax law requires US citizens and resident aliens to report ALL worldwide income to the IRS, including income from foreign trusts, and foreign bank and securities accounts. This applies […]

A Few Things to Consider if You Barter

Individuals and small businesses sometimes barter to get products or services they need. Bartering is the trading of one product or service for another and doesn’t involve the exchange of cash. An example of […]