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 […]
From the phoenix tax attorney Tag
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 […]
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 […]
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 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 […]
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 […]