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Foreign Trust Accounts Fall under Reach of FATCA
FATCA requires offshore trust accounts to disclose information to the IRS or face penalties or U.S. sanctions on funds transfers.  SONY DSCThe Foreign Accounts Tax Compliance Act (FATCA) has created a slew of new requirements for United States citizens with funds and income in offshore accounts.  In addition to requiring citizens and foreign financial institutions to disclose information...
Professional Tax Planning Can Lead to Significant Savings
As tax season approaches, it is important to find a reliable and experienced tax lawyer to help you identify possible tax savings and ensure compliance with changing processes and procedures.  tax evasionTax season might not be the first thing that comes to mind when you think of ways to save money, but by partnering with an experienced professional...
Failure to Disclose Expensive Assets May Put Taxpayers in Hot Water with IRS
Taxpayers are required to disclose all income and assets to the U.S. government and with laws like FATCA, failure to do so could mean steep penalties. irisUnderstanding tax laws can often be a confusing, and tedious process for taxpayers.  As procedures change, navigating the updates can be a challenging task.  Furthermore, reporting requirements may seem daunting for those...
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