Tax Fraud And Denaturalization Risks: A Balanced View For Taxpayers

Recent headlines have created alarming concerns among naturalized U.S. citizens. These have suggested that certain tax issues could lead to the loss of U.S. citizenship. This fear is now being amplified on various platforms and stems from a case involving, Vanessa Ben, a Houston woman facing denaturalization over her admission of tax fraud prior to … Continue reading Tax Fraud And Denaturalization Risks: A Balanced View For Taxpayers →

Denaturalized Citizens Forced To Exit, Can’t Escape Exit Tax

In the heart of America’s immigration debate, a lesser-known but seismic issue is emerging. The intersection of denaturalization and the expatriation tax regime is an explosive topic that has not yet been explored. If the expatriation regime applies to a denaturalized citizen, it imposes an exit tax through a deemed sale of worldwide assets as … Continue reading Denaturalized Citizens Forced To Exit, Can’t Escape Exit Tax →

“Revenge Tax” is Scrapped From The One Big Beautiful Bill

BREAKING NEWS --- On June 26, 2025, Treasury Secretary Scott Bessent announced a "deal" between the US and the G7 nations (Canada, France, Germany, Italy, Japan, and the UK) to exempt US companies from certain foreign taxes, prompting him to request Congress to drop proposed new Internal Revenue Code Section 899 from the One Big … Continue reading “Revenge Tax” is Scrapped From The One Big Beautiful Bill →

One Big Beautiful Revenge Tax: Hits Foreigners From “Unfair Tax” Jurisdictions

The U.S. House of Representatives just passed H.R. 1, the “One Big Beautiful Bill Act” by a narrow margin, with the vote being 215 to 214. Foreign persons (including foreign governments) considering inbound investments should pay close watch as this develops. The OBBBA has many tax provisions, but one (Section 112029 of the OBBBA) would … Continue reading One Big Beautiful Revenge Tax: Hits Foreigners From “Unfair Tax” Jurisdictions →

Does Pope Leo XIV Have to File an FBAR? U.S. Citizenship and 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 →

MAY 13 WEBINAR 2 IRS CPE Navigating Foreign Accounts & FBAR: Avoiding Traps That Lead to Costly Penalties

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 →

WEBINAR 2 IRS CPE -Global Workforce: U.S. Tax Impact on Digital Nomads, Remote Workers and Their (Often Overlooked) Employers

Some exciting news. I am presenting a webinar on Nov. 21 Thursday 10 AM EST. 2 IRS CPE credits. $20 off on registration fee if you use code "VIRGINIA" at checkout Hope to see you there. Please share with your colleagues and friends who may have interest in this topic. REGISTER AT THE LINK: Global … Continue reading WEBINAR 2 IRS CPE -Global Workforce: U.S. Tax Impact on Digital Nomads, Remote Workers and Their (Often Overlooked) Employers →

Transparency Triumph? How the Corporate Transparency Act Impacts Foreign Investors in the USA

In a globalized economy, foreign investment plays a pivotal role in driving economic growth and innovation. For years, the United States has been a beacon for international investors seeking lucrative opportunities. However, concerns surrounding transparency and accountability have often loomed large, creating barriers for foreign investors navigating the complex landscape of American business. Enter the … Continue reading Transparency Triumph? How the Corporate Transparency Act Impacts Foreign Investors in the USA →

Corporate Transparency Act: BEWARE! The Scammers have Already Arrived!

As most of my readers know the Corporate Transparency Act (CTA) requires US entities (including for example, US LLCs, corporations, partnerships), and many foreign entities including those that register to do business in a state, to disclose to FinCEN of the Treasury Department, the identity of their beneficial owners. Information to be provided: name, date … Continue reading Corporate Transparency Act: BEWARE! The Scammers have Already Arrived! →

IRS Direct File Pilot Program: Up & Running, but Not for Everyone!

I have written before about the new Internal Revenue Service (IRS) Direct File pilot program. "Eligible" taxpayers in 12 states can now file their 2023 US tax returns directly with the IRS (for free). No more need for Turbo Tax or a tax return preparer! According to the IRS, the Direct File pilot is easy … Continue reading IRS Direct File Pilot Program: Up & Running, but Not for Everyone! →