Foreign Accounts Compliance

What Are U.K. SIPPs and ISAs, and How Are they Reported for U.S. Tax Purposes?

Note: This is the first of three articles on United States Income Taxation of British Self-Invested Pension Plans (“SIPPs”) and ...
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Accidental Americans

Hans was born in the United States 43 years ago.  When Hans was 6 years old his parents moved back ...
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Beware Form 3520-A

A U.S. personwho is a beneficiary of a foreign grantor trust must report the trust to the Internal Revenue Service ...
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Deceased Individuals’ FBAR Penalties

Successor Liability for Decedent’s FBAR Penalties The United States taxes its citizens and residents on their worldwide income.  It does ...
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Photo courtesy Upsplash/Nicole Geri

Foreign Accounts Compliance Update

The first thing a taxpayer should do who is out of compliance with United States laws concerning foreign financial accounts ...
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VDP—IRS’ Updated Voluntary Disclosure Practice

The Internal Revenue Service ended its Offshore Voluntary Disclosure Program (“OVDP”) effective September 28, 2018.  Since then the IRS has ...
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Required Reporting of Foreign Financial Accounts

U.S. persons are required to report to the United States government concerning foreign financial accounts.  A “U.S. person” is a ...
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