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Aspects of Estate Planning for Persons with U.S. Connections

Most know June 30th as the deadline for filing FBARs or Foreign Bank Accounts – http://advancedamericantax.com/2014/11/25/fbars-and-form-8938/ But this year there’s a new kid on the block [...]

QUIET DISCLOSURES | FBAR I previously wrote about the amnesty program in general, and streamlined procedures in particular. Most agree that it is critical to contact the IRS before they contact [...]

Each U.S. citizen and permanent resident must report worldwide income to the IRS even when paying taxes elsewhere. Moreover, you must file an annual FBAR (Foreign Bank Account Report now called [...]

For US persons that have not been fully compliant, I always believe that legal advice is helpful. Nevertheless, there are typically 3 options to consider. Firstly, there are those who believe [...]

  In May 2014, the government of Singapore concluded in principle, an Intergovernmental agreement with the government of the United States.  This agreement, commonly known as FATCA, stands for [...]

FBAR stands for Foreign Bank Account Report. It must be filed by “U.S. persons” if the person has an interest in, or signatory authority over a foreign financial account, and the [...]

Earlier this month, there was an article on FATCA in the Trinidad Express extensively quoting a local attorney named David West.  Mr West is the former Head of the Central Authority Unit and a [...]

Effective July 1, 2013, FBARs must be filed electronically using the E-Filing System maintained by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”).  This [...]

http://www.bna.com/opt-irs-offshore-n17179879879/ Since 2009, many U.S. persons with foreign accounts and income have sought shelter from the IRS onslaught. Not everyone has entered the IRS [...]