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Foreign Banking
Millions of taxpayers do at least some banking overseas, but they risk getting into hot water with the IRS. Avoid this unsavory fate by checking out the best of our writing on foreign banking. Learn how to correctly report your foreign accounts, come clean on your taxes, and ensure you don’t commit tax evasion or fraud! If you’re worried about your foreign bank accounts, don’t waste any time—get in touch with one of our expert tax support specialists today through our free live chat, located to the bottom right of your screen – or by clicking here.
Category: Foreign Banking
Jun
30
How to Deal with an IRS Revenue Officer
When you owe money to the IRS, you may have an IRS revenue officer (RO) assigned to your case. Your case will first be assessed by an IRS revenue agent and then escalated to a revenue officer if it is felt your case requires further attention. IRS re...
Nov
17
How Moving Abroad Affects Your Taxes
Dreaming of Canada? Moving abroad can be a refreshing change, but many fail to realize how their taxes are affected – proper preparation is key. Read below to ensure your financials are in order before hopping on that plane! Tax Considerations ...
Oct
23
Have Money Overseas? Here’s How to Report It
Offshore tax evasion is a serious offense and the IRS has taken measures to prevent it; Switzerland is generally closed off, and the organization has teamed with the UK and Australia to further discourage hiding money abroad. If you have money overse...
Jun
18
Offshore Banking: What You Need To Know
People doing business or living overseas may be interested in doing some offshore banking. When people think of it, they think Swiss bank accounts or funds stashed away on some tropical nation like the Cayman Islands. But the consequences of and rule...
Oct
22
What Foreign Asset Disclosure Program Should I Use?
If you have money stashed overseas and it’s keeping you up at night, you might be thinking about turning it in to the IRS and making a full disclosure. Having cash stashed overseas can bring a nice payment or two every so often, sure. But the c...
Aug
27
IRS Eases Rules for Reporting Hidden Overseas Cash
Making money overseas can be exciting. Whether you have family or business assets located abroad, making goods or providing services overseas can lead to big profits here at home. But after the IRS started to crack down on overseas tax dodgers in 200...
May
07
Disclosing Foreign Assets: When and What to Report
Nowadays, you can perform international business with the click of a mouse. You can make money investing in a factory or in businesses overseas, sure. But you must disclose your profits and assets to the IRS. If you’re disclosing foreign assets...
Feb
05
Hiding Money Overseas? IRS Offers New Way Out
Doing business overseas can be very lucrative. But stashing the earnings in a foreign bank account can get you in a heap of trouble with Uncle Sam. Every year, business people sell products overseas. They may open an overseas plant or factory, travel...
Sep
24
Hiding Money Overseas? 5 Reasons to Come Clean
No one likes paying taxes, but some bite the bullet and pay anyway. Others get crafty and store their money overseas, hoping to avoid the long arm of United States tax law. A taxpayer can save a few bucks from going to Uncle Sam’s coffers. But ...
Jul
22
Feds Give International Tax Dodgers Extra Six Months
The federal government announced in July 2013 that another delay is needed before Uncle Sam starts enforcing a law targeting international tax scofflaws. So, good news, tax dodgers. More Time Needed to Finalize International Agreements Congress passe...
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