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Archive for April, 2016

Overseas Americans Can’t Open Foreign Accounts Because of FATCA? Court Says Tough Luck!

By Virginia La Torre Jeker J.D., - Friday, April 29, 2016

The Foreign Account Tax Compliance Act (FATCA), was enacted into law in 2010. Its aim was to stop US citizens and residents from using overseas investments to avoid paying tax…. Read more…

IRS Announces Disappointing 2016 Foreign Housing Cost Amounts

By Virginia La Torre Jeker J.D., - Saturday, April 23, 2016

Overview A foreign housing exclusion is available for certain overseas housing expenses that exceed a “base housing amount”.  Self-employed persons cannot claim the foreign housing exclusion.  Self-employed taxpayers living abroad… Read more…

Black Money, US Real Estate & Shell Companies – The Jig’s Soon Up

By Virginia La Torre Jeker J.D., - Monday, April 18, 2016

By now just about everyone is aware of the latest (and largest to date) offshore data leak – the Panama Papers.   Panama Papers, Banking Loopholes and Shell Companies Revelation of… Read more…

Just in Time – IRS Expands List of Designated Private Delivery Services

By Virginia La Torre Jeker J.D., - Wednesday, April 13, 2016

US taxpayers living abroad are more often faced with tight deadlines for filing their paper tax returns. Foreign post offices can sometimes be very unreliable and law-abiding taxpayers are often… Read more…

PFIC Rules Can Apply to a Gift?!?

By Virginia La Torre Jeker J.D., - Saturday, April 9, 2016

Part I of this blog post explained that when a US person receives a gift from a foreign corporation or foreign partnership, bad things happen.  Instead of the usual tax… Read more…

OOOOPS! Dad Gave Me A Gift from His Foreign Corporation (or Partnership)

By Virginia La Torre Jeker J.D., - Saturday, April 2, 2016

In my practice in the Middle East I’ve found it very common that families create offshore structures (i.e., outside the USA) in various countries to hold a large portion of… 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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