Category: International Tax

what happens to social security if you renounce citizenship
Expat Tax
What Happens to Social Security if You Renounce Citizenship

Before you give up your citizenship, you should understand what happens to social security if you renounce citizenship. It’s pretty straight forward.

passive foreign investment company
International Tax
Passive Foreign Investment Company – PFIC Authoritative Guide

Making investments is the best way to help you with …

renouncing us citizenship taxes
Expat Tax
A Guide to Tax Implications of Renouncing US Citizenship

Renouncing US citizenship and taxes is complicated. There’s an “exit” and possible penalties. But some tax can be greatly reduced.

streamlined foreign offshore procedures
International Tax
IRS Streamlined Foreign Offshore Procedures Simplified (Step by Step Guide)

The streamlined foreign offshore procedures is for taxpayers that have undisclosed foreign income or accounts but live inside the U.S.

fbar vs 8938
Foreign Bank Reporting (FBAR)
FBAR vs 8938 – Foreign Accounts & Assets Reporting Guide 2021

The FBAR vs 8938 are similar, but there are some key differences. Penalties for not filing each (or both) leads to serious penalties.

irs revoking passports
International Tax
What to Do if IRS Revokes or Denies Passport for Unpaid Taxes

The IRS has been revoking passports for unpaid taxes. You can get your revoked passport back without fully paying your tax debts.

International Tax
FATCA Guide – Regulation, Reporting, Filing Requirements, and Penalties

FATCA has confused tax professionals since its inception. The penalties for failing to comply are steep. Learn the basics to avoid penalties.

international estate planning
International Tax
International Estate Planning – Everything You Need to Know

International estate planning is complex and may lead to tax pitfalls. If you own assets overseas then learn about your potential exposure.

foreign trust taxation
International Tax
A Guide to Foreign Trust Taxation

The taxation of a foreign trust depends on whether it’s a grantor or non-grantor trust. Learn the difference and avoid harsh IRS penalties.