Virginia La Torre Jeker, J.D. — US tax matters affecting international clients
There has been a lot of discussion about the possible U.S. tax obligations for Pope Leo XIV, the first U.S. citizen Pope. Some of the assertions have generated confusion, leaving key U.S. tax concepts insufficiently addressed. One of the biggest areas of misunderstanding has been the Pope’s possible FBAR reporting (FinCEN Form 114) versus FATCA … Continue reading Why Pope Leo Can Skip FATCA, But Not FBAR
Learn all about FBAR and expand services to your clients with confidence. Maybe even land Pope Leo XIV as a new client since his Holiness probably has to file FinCEN Form 114 for the Vatican Bank's accounts. Understand your own compliance risks and what to do if you are not compliant. This is the FBAR … Continue reading WEBINAR – Back By Popular Demand FBAR, FBAR, FBAR!
Want to learn all about FBAR and why Pope Leo XIV probably has to file it for the Vatican Bank's accounts? This is the webinar to attend. Navigating Foreign Accounts & FBAR: Avoiding Traps That Lead to Costly Penalties Date: Tuesday, May 13, 2025 | Time: 11 AM ET | Duration: 100 mins | Credits: 2 IRS CPEs Register here and use … Continue reading WEBINAR: Learn All About FBAR and Pope Leo XIV’s FBAR Duties With Accounts at God’s Bank
Yesterday, the world welcomed Pope Leo XIV, a U.S. citizen, as the newly elected Pope, marking a historic moment for the Catholic Church. But amid the papal fanfare, a quirky tax question arises: could His Holiness need to file a Report of Foreign Bank and Financial Accounts (FBAR) for the Vatican Bank’s accounts? It’s a … Continue reading Does Pope Leo XIV Have to File an FBAR? U.S. Citizenship and God’s Bank
A recent decision reminds taxpayers and the tax compliance community of the importance of filing the Report of Foreign Bank and Financial Accounts. The U.S. District Court for the Southern District of New York in United States v. Hendler, 23 Civ. 3280 (Sept. 17, 2024) has clarified the enduring nature of penalties tied to FBAR. … Continue reading The Hendler Case: FBAR Penalties Survive Beyond Death
Automatic Extended Due Date for FBARs is October 15. Many wealth advisors, tax pro’s and compliance professionals are taking advantage of this extended due date (no need to apply, it’s automatic) to save time for tax returns due soon. Perfect opportunity to attend my webinar May 1 2025. Learn from the best. My slides are … Continue reading MAY 13 WEBINAR 2 IRS CPE Navigating Foreign Accounts & FBAR: Avoiding Traps That Lead to Costly Penalties
As the April 15 tax filing deadline approaches, U.S. persons with foreign financial accounts must be aware of their obligation to file the Report of Foreign Bank and Financial Accounts, commonly called the “FBAR”. The filing deadline is April 15, the same due date as one’s U.S. income tax return, but there is an automatic … Continue reading FBAR Due Date: Triggers And Key Compliance Rules For U.S. Taxpayers
Purchasing or owning real estate property overseas can be an exciting investment opportunity, but for U.S. persons, it comes with significant tax and reporting obligations. Foreign persons becoming U.S. tax residents (e.g., obtaining a green card) may already own overseas properties and should be aware of the U.S. tax issues they will face at the … Continue reading Owning Real Estate Property Overseas: 9 Key U.S. Tax Issues
The Department of Justice and the Internal Revenue Service have recently reaffirmed their strong commitment to pursuing offshore tax evasion through the use of powerful investigative tools. One such tool is the IRS John Doe Summons. On Dec. 23, 2024, the United States District Court for the Southern District of New York granted the IRS authority … Continue reading Offshore Tax Evasion: U.S. Clients Of Trident Trust Target Of IRS John Doe Summons
Representative Darin LaHood just introduced on December 18 the Residence-Based Taxation for Americans Abroad Act, aiming to modernize the US tax system for Americans living overseas. This proposal seeks to shift from the current citizenship-based taxation—which taxes US citizens on their worldwide income regardless of residence—to a residency-based system. The existing US tax framework has … Continue reading Breaking! Residence-Based Taxation for Americans Abroad May Become Reality
Virginia - US TAX TALK 