Virginia La Torre Jeker, J.D. — US tax matters affecting international clients
It is usually very quick and easy to set up a foreign corporation - say, one in Belize or in the Cayman Islands. What is not so easy is working one's way through the quagmire of required Internal Revenue Service (IRS) reporting and US tax obligations simply because you are a US person owning shares … Continue reading Quicksand! US Owners of Foreign Corporations
One Country, Two Citizenships: John Richardson Interviews Virginia La Torre Jeker. Most people don’t know that the US has two kinds of citizenship – “Immigration” citizenship and “Tax” citizenship. Tax citizenship, the monkey on your back, is hard to shake off! Watch the interview, here. All the US tax information you need, every week … Continue reading USA: One Country, Two Citizenships
My blog post containing tax-saving tips for the filing of a US income tax return when one is married to a non-resident alien spouse is here. It will be helpful to read that post before embarking on this one as it sets out the basics and provides the income tax rates and brackets for the 2018 … Continue reading Married to A Non-US Spouse? Use of “Resident” Election, Filing FBAR and Form 8938
Learn about MR. FBAR in my interview with attorney John Richardson... Reportable - foreign pensions? Foreign Life Insurance? Foreign cryptocurrency accounts? https://odysee.com/@thatchannel:4/looking-for-mr-fbar-with-virginia-la:4 All the US tax information you need, every week – Just follow me on Twitter @VLJeker (listed in Forbes, Top 100 Must-Follow Tax Twitter Accounts 2017-2021). Subscribe to Virginia – US Tax … Continue reading Looking for Mr. FBAR? He’s Due October 15th! Learn the Latest…
US persons (e.g., US citizens, US green card holders) must make an information report to the IRS when making certain transfers to foreign (non-US) corporations. Specifically, when a US person transfers (or is treated under the tax rules as having transferred) property to a foreign corporation in certain “non-recognition” transactions (e.g., a contribution of capital … Continue reading Transfer of Property or Cash to a Foreign Corporation? FILING OF FORM 926
Henry Seggerman has first-hand experience with this type of situation. Without hesitation, my guess is that he’ll tell you to get the Estate into an IRS Voluntary Disclosure Program (“VDP”). Here is the tale of the unenviable case of the Seggermans! Henry was the son of a prominent New York businessman who passed away. Henry was … Continue reading What if Someone Dies Owning an Undeclared Foreign Financial Account? What Should The Executor & Heirs Do?
Below is a copy of my post as it appeared (May 21 2018) on my former blog "Let's Talk About US Tax" hosted by AngloInfo. We had a very interesting case decided May 16 2018 when a district court in Texas granted Dominique Colliot’s motion for summary judgment (United States, v. Dominique G. Colliot). The … Continue reading Can You Claim a Refund of Your “Willful” FBAR Penalty?
Compliance with the Foreign Account Tax Compliance Act (“FATCA”) enacted 8 years ago, has resulted in a plethora of new US tax reporting requirements, forms and rules. Unfortunately, all of these continue to evolve and become more and more complex with the passage of time. The year 2014 marked a significant year for the Form W-8BEN, a … Continue reading Confused Yet? W-8BEN, W-8BEN-E, Foreign ITINs and Dates of Birth
US persons living and working overseas often find it more difficult to meet the deadlines for their tax returns. This is so because they may have foreign financial assets that require a more extensive tax analysis to prepare the return. Just think about the work required to figure out the “transition tax” or “deemed repatriation … Continue reading Americans Abroad: October 15 Tax Filing Deadline – Not Ready? Don’t Panic
Copied below is my blog piece originally posted on AngloInfo "Let's Talk About US Tax" posted on April 4, 2018 by Virginia La Torre Jeker J.D., Most readers have some familiarity by now with new Internal Revenue Code Section 965 and the “deemed repatriation” or “transition tax” introduced by the Tax Cuts and Jobs Act (“TCJA”). Introductory detail about this new … Continue reading Calculating the Transition Tax: Just Like Dental Work – Painful in More Ways Than One
Virginia - US TAX TALK 