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Another Tax Season has come and gone. Here are the 5 Lessons Learned from this Tax Season.
Congress passed the American Taxpayer Relief Act on December 31, 2012. It’s clear that no one voting on it read it, much less understood it. The timing of this legislation was not good. Due to the late passage of this bill the IRS was … Continue reading »
Investors with offshore accounts must be familiar with the filing requirements of the FBAR and IRS Form 8938.
Any U.S person with offshore accounts that had more than $10,000 in them any time during the year must file Form TD F 90-22.1, the so-called FBAR (Report of Foreign Bank and Financial Account). A U.S. person includes individuals, partnerships, corporations and estates and trusts. This form must … Continue reading »