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Archive for August, 2014

HELP! I Want to Expatriate But They are Scalping Me….

By Virginia La Torre Jeker J.D., - Friday, August 29, 2014

Lately, renouncing US citizenship has become more and more fashionable with the full implementation of the “Foreign Account Tax Compliance Act (also known as “FATCA”) at our doorstep. The number… Read more…

Iran Sanctions – Becoming US Tax Compliant Poses A Hidden Problem For Many Iranian-Americans

By Virginia La Torre Jeker J.D., - Monday, August 25, 2014

Along with a host of others, many US-Iranian dual nationals are now becoming aware of their US tax and reporting obligations and trying to become US tax compliant.  All fine… Read more…

IRS Just Made Life Easier: Fillable Forms for Streamlined 2014

By Virginia La Torre Jeker J.D., - Thursday, August 21, 2014

The IRS has really streamlined the Streamline Procedures.  IRS has just updated the Streamlined Procedure forms for both its “offshore” and “domestic” procedures.   All is now in fillable format;… Read more…

Dear Mr. President… Why I Must Expatriate….

By Virginia La Torre Jeker J.D., - Tuesday, August 19, 2014

This letter was posted by Robert Wood on Forbes’ website. Robert is a US tax lawyer based in San Francisco, California. He received this letter in the course of his… Read more…

Foreign Persons as S Corporation Shareholders: Risky Business Part II

By Virginia La Torre Jeker J.D., - Monday, August 18, 2014

Part I of this blog post detailed the requirements for eligibility for electing S corporation status, maintaining it, as well as the tax benefits of being an S corporation.  It… Read more…

Foreign Persons as S Corporation Shareholders: Risky Business Part I

By Virginia La Torre Jeker J.D., - Monday, August 11, 2014

Often, a small business or start-up will utilize an S corporation election for their business. An S corporation is a corporation formed under a particular State’s incorporation laws (or an… Read more…

US Banks With Foreign Clients – Update on Reciprocal FATCA Reporting

By Virginia La Torre Jeker J.D., - Thursday, August 7, 2014

The Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) proposed rules on July 30 requiring US financial institutions to collect “Customer Due Diligence” information. The FinCEN proposed rules are aimed at… Read more…

OVDP Hotline Nixes Practical Use of New Streamlined Program

By Virginia La Torre Jeker J.D., - Monday, August 4, 2014

The inflexibility of the IRS in the offshore area is starting to get some professionals down. I am one of them, but there are some others voicing similar frustration.  Taxpayers… 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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