Ever increasing U.S. reporting obligations on Americans living, working, and/or investing abroad, make it difficult to keep up. This is a review of your foreign assets and FBAR reporting requirements. Foreign assets are reported on IRS Form 8938 and the FBAR is sent to the Treasury on FinCEN Form 114 (Report of Foreign Bank and
Are you considering forming a cheap offshore company? Has some scammer in Nevis promised you tax freedom and privacy? Forming a cheap offshore company that does not include U.S. tax compliance is a roadmap to disaster for the American living, working or investing abroad. How much would you be looking at in penalties for using
Because of the IRS automatic extension for Expats, today, April 16, is the first day of the Expat tax filing season. While those of us stuck in the U.S.A. must file and pay by April 15, Expats get an automatic two month extension. This two month automatic extension for Expats is more valuable than the standard
As you, the American with investments abroad, get ready to prepare your 2014 tax return, there are important new FBAR filing requirements for 2014. Some of these FBAR filing requirements are cosmetic and others could get the misinformed in hot water. Note: If you have no idea what an FBAR is, you might check out
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