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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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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