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
Tag: Americans Overseas
Giving up Your US Green Card – Make Sure It is Done Correctly or Pay the Price!
People from countries all over the world apply for US permanent residency status, informally known as obtaining a “green card”. Nowadays, however, many US green card holders are questioning whether to continue holding the green card. The number of individuals who are renouncing their US citizenship or relinquishing their long term permanent resident status (this … Continue reading Giving up Your US Green Card – Make Sure It is Done Correctly or Pay the Price!
The Unreported Offshore Account – Still Alive After Death & Plaguing Executors and Heirs
My blog post reproduced below was originally posted on AngloInfo "Let's Talk About US Tax" Posted on October 12, 2015 by Virginia La Torre Jeker J.D., When someone dies owning an unreported financial account, the heirs and executors of the estate are faced with a serious problem. First, assuming there is undeclared income earned with respect to the … Continue reading The Unreported Offshore Account – Still Alive After Death & Plaguing Executors and Heirs
If You Go, You Can’t Come Back. The Reed/Schumer Follies-Past And Proposed Anti-Expat Legislation: Interview With Bill Yates, Former IRS Attorney (International)
My blog post reproduced below was originally posted on AngloInfo "Let's Talk About US Tax" on December 30, 2013 by Virginia La Torre Jeker J.D., Today’s blog post is yet another interview that provides valuable insight from Willard (Bill) Yates, who recently retired from the Office of Associate Chief Counsel (International) (ACCI), Internal Revenue Service after 31 years … Continue reading If You Go, You Can’t Come Back. The Reed/Schumer Follies-Past And Proposed Anti-Expat Legislation: Interview With Bill Yates, Former IRS Attorney (International)
Jail Time for Plastic Surgeon Hiding Money in Dubai
This FBAR case hit close to home. In fact, it hit home! The Department of Justice proudly announced that it flushed out a Beverly Hills plastic surgeon hiding money in Dubai and got him sentenced to one year and one day in federal prison. Marc Edward Mani, 50, will serve jail time for failing to … Continue reading Jail Time for Plastic Surgeon Hiding Money in Dubai
Americans Abroad: Sept 18, LONDON – Push to End Citizenship-Based Taxation
A lively discussion is set to drum up support to convince US lawmakers to end America’s increasingly-unpopular “citizenship-based” tax regime. The meeting will take place in London next week. When: Tuesday 18 September 2018 - 17:30 to 19:00 Where: Central London location – to be confirmed upon RSVP (nearest tube: Westminster) Venue: To be provided upon RSVP (nearest … Continue reading Americans Abroad: Sept 18, LONDON – Push to End Citizenship-Based Taxation
Tax Primer: US Expats & Foreigners
Everything you need to know about US tax is right here at your fingertips! My primer provides information for overseas Americans and green card holders on US tax obligations including Income Tax, Estate Tax and Gift Tax as well as IRS reporting requirements and State income tax. It also provides detailed information for foreign individuals … Continue reading Tax Primer: US Expats & Foreigners
Flying Under the Radar: Personal Use of “Business” Frequent Flyer Miles
Do I have to pay tax on that? Get the full scoop in today's post! “Expat” taxpayers living abroad are often given certain perks from their employers that would not be provided if the individual remained State-side. For example, provision by the employer for airline tickets home for the taxpayer and his/her family; or payment … Continue reading Flying Under the Radar: Personal Use of “Business” Frequent Flyer Miles
The Sky’s the Limit: FBAR Penalty Win for IRS – New Case Upholds 50% of Account Balance
I have been keeping readers up to date with the current controversy surrounding imposition of an FBAR penalty for “willful” violations. Two courts have limited the FBAR “willfulness” penalty to $100,000 because the Department of Treasury did not update the relevant regulations to match the statute as revised by Congress in 2004. Essentially the dispute … Continue reading The Sky’s the Limit: FBAR Penalty Win for IRS – New Case Upholds 50% of Account Balance
Americans Abroad – May Legislative Relief Be Forthcoming?
I have blogged extensively about the US tax problems faced by Americans living and working overseas (for example, see my posts here, here and here). There is a possibility that the US Congress may introduce, debate and vote upon a bill that may ease the US tax burdens placed on such overseas Americans. A bill … Continue reading Americans Abroad – May Legislative Relief Be Forthcoming?
Virginia - US TAX TALK 