Foreign Accounts Compliance
What Are U.K. SIPPs and ISAs, and How Are they Reported for U.S. Tax Purposes?
By Stephen J. Dunn |
Note: This is the first of three articles on United States Income Taxation of British Self-Invested Pension Plans (“SIPPs”) and ...
Read More Accidental Americans
By Stephen J. Dunn |
Hans was born in the United States 43 years ago. When Hans was 6 years old his parents moved back ...
Read More Beware Form 3520-A
By Stephen J. Dunn |
A U.S. personwho is a beneficiary of a foreign grantor trust must report the trust to the Internal Revenue Service ...
Read More Deceased Individuals’ FBAR Penalties
By Stephen J. Dunn |
Successor Liability for Decedent’s FBAR Penalties The United States taxes its citizens and residents on their worldwide income. It does ...
Read More Foreign Accounts Compliance Update
By Stephen J. Dunn |
The first thing a taxpayer should do who is out of compliance with United States laws concerning foreign financial accounts ...
Read More VDP—IRS’ Updated Voluntary Disclosure Practice
By Stephen J. Dunn |
The Internal Revenue Service ended its Offshore Voluntary Disclosure Program (“OVDP”) effective September 28, 2018. Since then the IRS has ...
Read More Required Reporting of Foreign Financial Accounts
By Stephen J. Dunn |
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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