U.S. taxpayers living overseas need not fear reporting foreign income If an American Taxpayer living outside the United States is concerned that his or her failure to report income, pay tax and submit required information returns was due to willful …
The Internal Revenue Service (IRS) has announced that the Offshore Voluntary Compliance Program (OVDP) will terminate on September 28, 2018 (not the Streamlined Compliance Program). Once the OVDP ends the I.R.S. will be looking for offshore unreported income. The penalties, …
ATTENTION United States Taxpayers Residing Outside The United States Read more »
American citizens and residents often have placed funds in foreign bank accounts, in banks all over the world. There is a requirement that all of these foreign bank accounts be reported to the United States on an annual basis and that …
There also is an Internal Revenue Service program that permits United States individuals, who have innocently and unknowingly not reported their foreign bank deposits, to report those deposits at a much reduced penalty than the penalty applicable to the willful …
An update on the IRS Streamline Compliance Program Read more »
This is an extremely important and valuable I.R.S. Program. It allows almost every American who has been afraid to step forward and disclose their foreign assets to the U.S. taxing authorities to do so with minimized penalties on unpaid taxes and unfiled information returns.
The taxation of Americans and long term green card holders (permanent residents) who expatriate from the United States has gone through many changes over the years. The latest version of these changes with tax expatriating Americans on their accumulated un-taxed …
The Tax Planning for Expatriation from the United States Read more »
In the video below, United States Tax Attorney, Richard S. Lehman explains the new I.R.S. Streamlined Filing Compliance Procedures. This is an extremely important and valuable I.R.S. Program. It allows almost every American who has been afraid to step forward and …
We are having success in getting penalties eliminated or reduced. I want to make you aware of the best guidance that one can get regarding the new IRS open-ended Amnesty program. These questions from the IRS deal with the Amnesty …
New U.S. tax laws require strict reporting of foreign assets and establish a new program granting Amnesty from criminal tax prosecution for offshore delinquent taxpayers. The United States has finally caught up with the Global world when it comes to taxation. Three new laws are now in place to insure, as much as possible, that individual Americans and resident aliens will pay tax on their worldwide income.
There is one creditor that is often not put off even by bankruptcy – the IRS. By Richard S. Lehman, Esq., of Richard S. Lehman P.A. Published: South Florida Business Journal Whether it is individuals who have not filed their …