Tax Lawyer Blog

Part 1 While many tax reporting requirements have been in place for many years, the Foreign Account Tax Compliance Act (FATCA) set to take effect on July 1, 2014 establishes enhanced due-diligence and information reporting requirements, both for individuals and foreign banks. This will provide the IRS with an increased...

Client Bulletin June 2014 What's Inside Offshore Practice Group: China, Hong Kong, and South Korea Update June 30th Deadline - FBAR Civil Tax Matters & Tax Planning: How Inherited Assets Differ From Gifts Prime Points for Your Buy-Sell Criminal Corner: The IRS & Identity Theft Enforcement Alert to tax scam...

Our team of experienced tax attorneys can help you become compliant with the Internal Revenue Service and minimize or eliminate your exposure to any offshore penalties and other problems. Offshore Voluntary Disclosure Representation One option individuals who have unreported foreign bank accounts and have underreported or failed to disclose foreign...

Several options exist for individuals with prior undisclosed foreign assets and/or income to become compliant with the IRS.  Two of the more commonly used choices are the Qualified Quiet Disclosure and the Offshore Voluntary Disclosure Program ("OVDP"). Taxpayers entering into the Offshore Voluntary Disclosure Program must agree to several requirements. ...

It is becoming increasingly common for Americans of retirement age to spend their golden years abroad. The most common reasons for this is to live in a more favorable climate and to save money. Living on a pension or other retirement income can go much further in many countries than...

China has now joined the U.S.' efforts to combat tax evasion by entering into the Multilateral Convention on Mutual Administrative Assistance in Tax Matters effective August 27, 2013. The gravamen of this new treaty with China is that the U.S., by and though the U.S.'s FATCA, will be able to...