Penalties for Non-willful Violations of FBAR Filings must be Assessed on a Per Form Basis
Kaufmann had 13 foreign accounts in Israel that were not reported on the Form TD F 90-22.1, "Report of Foreign Bank and Financial...
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Feb 16, 20212 min read
Covered Expatriate Charged with Tax Fraud after Concealing $1B in Assets
Who is a covered expatriate? The IRS expatriation provisions apply to US citizens who have renounced their citizenship and long-term...
Feb 16, 20212 min read
A Pilot Living in Thailand does not Qualify for the Foreign Earned Income Exclusion
Who can take the Foreign Earned Income Exclusion? A US taxpayer who has foreign earned income such as salaries, wages, commissions,...
Feb 16, 20212 min read
Domestic Corporations with Foreign Revenue, Don’t Forget the FDII Deduction!
We have seen this deduction overlooked numerous times by taxpayers because they were not aware it existed. Any US corporate taxpayer...
Feb 16, 20212 min read
Don't Forget to Report Foreign Gifts and Inheritances
Gifting can be a great way to move appreciated assets out of your estate, transfer income to lower taxed family members or just to be...
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