
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…
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.