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Archive for June, 2014

Got’cha! Delinquent Taxes Owed to IRS, Now Owed Indefinitely? What About Tax Non-Compliant Expatriates?

By Virginia La Torre Jeker J.D., - Monday, June 30, 2014

It was recently reported in the press that the Social Security Administration was collecting old debts of many deceased persons by intercepting the tax refunds of their children.  After much… Read more…

IRS Provides Relief with New Streamlined Procedures / Modifies OVDP

By Virginia La Torre Jeker J.D., - Thursday, June 26, 2014

Soon after my vacation leave from Dubai on June 8th, the IRS announced new procedures that will help many Americans with overseas accounts and assets.  Many of you may already… Read more…

US Tax Issues – Ownership of Real Property Abroad

By Virginia La Torre Jeker J.D., - Monday, June 23, 2014

When purchasing a real property overseas, there are situations when it may prove advantageous or even necessary to do so through an offshore corporation, rather than owning the property individually. … Read more…

How to Treat Gifts and Bequests from Foreign (Non-US) Persons

By Virginia La Torre Jeker J.D., - Monday, June 16, 2014

If you are a US citizen or resident and you receive gifts or bequests (generally, an inheritance or gift of property by a Will) of money or other property from… Read more…

Foreign Earned Income Exclusion: What is “Earned Income”?

By Virginia La Torre Jeker J.D., - Monday, June 9, 2014

Americans working abroad may be eligible to exclude certain foreign earned income (wages, compensation for services) from US taxable income under the rules governing the Foreign Earned Income Exclusion (FEIE)…. Read more…

OVDP — IRS Commissioner Offers Hope for the Minnow

By Virginia La Torre Jeker J.D., - Thursday, June 5, 2014

On June 3, 2014 the new IRS Commissioner, John A. Koskinen indicated there may be hope for the numerous US persons who “non-wilfully” did not properly report their offshore assets… Read more…

Thank you, American Citizens Abroad Inc. for Defending the Foreign Earned Income Exclusion

By Virginia La Torre Jeker J.D., - Wednesday, June 4, 2014

American Citizens Abroad Inc., champion of the voiceless 6 million+ Americans living overseas, sets the record straight in its well researched and well written reply to the recent GAO study… Read more…

See If Your Bank is FATCA-Compliant ….

By Virginia La Torre Jeker J.D., - Tuesday, June 3, 2014

Just about 77,000 foreign financial institutions (FFI) have registered with the IRS to comply with the Foreign Account Tax Compliance Act, which takes effect July 1. If you wish to learn whether your… Read more…

Cathay Pacific – Long Arm of IRS Withholding Tax on US Pilots’ Wages

By Virginia La Torre Jeker J.D., - Monday, June 2, 2014

Starting in June, we understand that Cathay Pacific Airlines will commence withholding 30 per cent of its American pilots’ salary every month. The withholding will be for US taxes and… Read more…

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An up-to-date look at US tax laws for American Expats, foreign investors into the US market or other foreign persons having any US connections. More Info

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