Category: International Tax
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.
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 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.
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.
Expat Tax
What are Streamlined Domestic Offshore Procedures – IRS 2021 (New) How to File?
Taxpayers who have unreported income may benefit from the IRS Streamlined Domestic Offshore Procedures and avoid IRS tax penalties.
Expat Tax
Who is a Dual-Status Alien? Do they file taxes?
If you are a dual-status alien in the US, you may have to file IRS tax returns. You might also get a stimulus check.
Expat Tax
Dual-Status Aliens Tax Return – How and When?
Dual-status aliens with US earned income will likely be taxed on that income. However, there are a few ways to avoid being taxed on that ...
International Tax
IRS Passport Denial or Revocation
The IRS can revoke your passport if you owe substantial back taxes. Learn if you are at risk of losing your passport, and how to ...
