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Category: Offshore Account Update

Taxation of American Expatriates Under FATCA

Offshore Account Update

Posted on May 6, 2019

In 2010, the Foreign Account Tax Compliance Act (FATCA) was passed by Congress and signed into law. The purpose of FATCA was to crack down on the use of offshore accounts to evade taxes. While FATCA has likely accomplished this goal, it has also made life much more difficult for American expatriates.

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U.S. Taxation of Foreign Income

Offshore Account Update

Posted on March 29, 2019

For U.S. taxpayers receiving foreign income, it is essential to be aware of the American tax requirements for such income. The United States is the only major country that taxes its citizens and permanent residents on income earned anywhere in the world. When faced with such an aggressive government stance on foreign income, U.S. taxpayers receiving foreign income must be certain they are in legal compliance.Read More

Offshore Banking Could Be Beneficial As Long As You Comply With IRS Rules

Offshore Account Update

Posted on January 31, 2019

Placing funds in certain foreign banks and investments overseas might be sound financial planning, but there are strict Internal Revenue Service reporting rules that must be followed.

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Foreign Corrupt Practices Act: Why You Need to Create Internal Controls and Procedures

Offshore Account Update

Posted on November 30, 2018

It is said that an ounce of prevention is worth a pound of cure. And this is certainly true when it comes to making sure employees behave properly when it comes to your company’s overseas business interests.Read More

How to Retire Oversees and Avoid Tax Penalties

Offshore Account Update

Posted on October 31, 2018

The IRS rules can sometimes be complicated and burdensome for taxpayers to follow, so consulting with a Boston tax lawyer for advice can be important to make certain that you're following the rules.  You can also read on to find some key facts you need to know about how to retire overseas without being hit with a big tax bill.Read More

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