The IRS will end the Offshore Voluntary Disclosure Program on September 28, 2018. If you haven’t come forward by that time, you’re out of luck. In fact, the IRS has already begun to ramp down the
The US IRS will begin certifying tax debts on January 22, 2018. If you have a “seriously delinquent” tax debt, your passport can be revoked. Likewise, the government can refuse to renew your passport if you
The IRS smells blood in the water over Bitcoin and it’s coming hard for Coinbase users. The war on cryptocurrency is just getting started and it’s going to get ugly fast. Expect US citizens with US
In this article I’ll explain how to eliminate Subpart F Foreign Base Company Service Income issues in an offshore corporation. Subpart F issues are the most common tax planning hurdles to overcome when you have a
Much like the NSA, the IRS data collection machine is building a file on all Americans. It’s online now and will be ready to use in all audits within one year. The IRS collects more useful
There’s no worse feeling in the world than coming home to a letter from the IRS telling you that you are being audited … until you get notice of an offshore IRS audit. No matter how
Foreign Account Tax Compliance Act is finally here and you can be sure that the impact of FATCA will be severe. This brief article considers the impact of FATCA on Americans living, working, or investing overseas.
If you thought an IRS audit was bad news, just wait until the IRS agents with guns come and take you down. The IRS Criminal Investigation Division, or CID, can seize your records, tap your phone,
The U.K. tax authority to allow IRS Levy type actions. If you owe the HMRC, they now have the authority to seize your bank account and raid your assets, just like an IRS levy. Now, it’s
If you have a tax debt, there are a number of IRS fees for setting up a payment plan or installment agreement. These IRS fees can add up quickly if you default and need to reapply.
I want to use today’s post to clear up a common misconception. Yes, the IRS can seize your IRA or other retirement account. Yes, the great collector is exempt from state laws protecting your retirement account
A few days ago I wrote an article on dealing with the IRS as an expat. Apparently, a number of you are carrying tax debt and are concerned with the IRS collection statute – how long
For most Americans, the IRS audit statute, the amount of time the IRS has to come after you once you have filed your return, is three years. Not so for those with foreign accounts and foreign
If you are a U.S. citizen living abroad, you have the same rights and responsibilities when it comes to your expat tax debt as those stuck in America. The IRS has ever increasing powers to collect
If you have unreported offshore bank accounts or foreign assets, the IRS has one last best offer called the 2014 IRS Offshore Settlement Program. Come forward and, if you are living offshore, pay no penalties. If
If you are a U.S. citizen living, working or investing abroad, you need to understand the difference between Offshore Tax Fraud and International Tax Planning. Offshore Tax Fraud is a crime while tax planning is the
Today I’m taking time out from my offshore beat to warn you about the CTR. An IRS Currency Transaction Report is a form filed by U.S. banks and casinos each time you make a deposit or
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 those of you living and working abroad, or investing outside of the United States, the fact that you file one or more of the offshore company forms and report a foreign bank account on the
If you are living and working abroad, you still need to worry about the IRS. In this article, I will talk about how to avoid an IRS audit with a focus on Expats. Are you worried