10 Facts You Must Know For Filing IRS Form 8938 (Update)
Golding & Golding Blog
by International Tax Lawyers
1w ago
  10 FAQs About IRS Form 8938 You Must Know With tax season in full swing, one of the most important international information reporting forms that a U.S. Taxpayer may have to file is IRS Form 8938. The Form 8938 is used by U.S. persons who are required to report foreign assets and accounts in […] The post 10 Facts You Must Know For Filing IRS Form 8938 (Update) appeared first on International Tax Attorney | IRS Offshore Voluntary Disclosure ..read more
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5 Form 3520 Facts You Should Know (New Update 2024)
Golding & Golding Blog
by International Tax Lawyers
1w ago
5 Facts About Form 3520 While there are many different types of international tax reporting forms that a U.S. person may have to file each year to disclose their foreign accounts, assets, investments, and income to the Internal Revenue Service — one of the most important tax forms to file is IRS Form 3520. Form […] The post 5 Form 3520 Facts You Should Know (New Update 2024) appeared first on International Tax Attorney | IRS Offshore Voluntary Disclosure ..read more
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Businessman Charged with Tax Evasion for Swiss Assets
Golding & Golding Blog
by International Tax Lawyers
2w ago
Miami Businessman Charged with Tax Evasion for Swiss Assets The IRS finally caught up with a businessman in Miami for allegedly failing to report foreign income and assets to the IRS.  The Department of Justice claims that the Taxpayer had hidden more than $20 million in assets, split across more than 20 banks at Swiss […] The post Businessman Charged with Tax Evasion for Swiss Assets appeared first on International Tax Attorney | IRS Offshore Voluntary Disclosure ..read more
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Taxpayer’s Big FBAR Win in Federal Court May Be Short-Lived
Golding & Golding Blog
by International Tax Lawyers
2M ago
A Surprising FBAR Victory May Be Cut Short The FBAR Refers to Foreign Bank and Financial Account Reporting (aka FinCEN Form 114). And, for several years now, the FBAR has been in the news with countless articles being written on issues involving the difference between willfulness and non-willfulness and how non-willful penalties should be issued. […] The post Taxpayer’s Big FBAR Win in Federal Court May Be Short-Lived appeared first on International Tax Attorney | IRS Offshore Voluntary Disclosure ..read more
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2 Fraudulent Tax Promoters Receive Hefty Prison Sentences
Golding & Golding Blog
by International Tax Lawyers
2M ago
Fraudulent Tax Deduction Promoters Get Hefty Prison Sentences In recent years, the Internal Revenue Service and the Department of Justice have been actively pursuing financial crime cases. This is to both protect the public, reduce the tax gap, and send a stern message to would-be tax fraudsters. As detailed in a recent press release issued […] The post 2 Fraudulent Tax Promoters Receive Hefty Prison Sentences appeared first on International Tax Attorney | IRS Offshore Voluntary Disclosure ..read more
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SCOTUS to Decide Moore, Mandatory Repatriation Tax Act
Golding & Golding Blog
by International Tax Lawyers
4M ago
Moore vs. United States (Sup Ct.) Recently, in the case of Bittner, the Supreme Court decided against the Internal Revenue Service on the issue of whether they can issue foreign bank and financial account (aka FBAR) penalties based on the number of accounts a taxpayer failed to report each year — or whether it is […] The post SCOTUS to Decide Moore, Mandatory Repatriation Tax Act appeared first on International Tax Attorney | IRS Offshore Voluntary Disclosure ..read more
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Taxpayer Prevails in Federal Court with FBAR Treaty Argument
Golding & Golding Blog
by International Tax Lawyers
4M ago
Taxpayer Prevails in Federal Court with FBAR Treaty Argument Previously, our international tax attorneys authored an article involving a taxpayer who was claiming he did not have to file the annual FBAR (Foreign Bank and Financial Account Reporting) because he lived overseas and made a treaty election to be treated as a foreign person for […] The post Taxpayer Prevails in Federal Court with FBAR Treaty Argument appeared first on International Tax Attorney | IRS Offshore Voluntary Disclosure ..read more
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A Primer on Reasonable Cause International Penalty Relief
Golding & Golding Blog
by International Tax Lawyers
4M ago
Reasonable Cause International Penalty Relief When a Taxpayer has failed to report their foreign accounts, assets, investments, and income to the IRS in previous years, they may become subject to IRS fines and penalties for their non-compliance. Oftentimes, the penalties for international information reporting non-compliance can be very harsh and far exceed the nature of […] The post A Primer on Reasonable Cause International Penalty Relief appeared first on International Tax Attorney | IRS Offshore Voluntary Disclosure ..read more
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A (New) Tax Fraud Update: 7 Tax Violations to Avoid in 2024
Golding & Golding Blog
by International Tax Lawyers
5M ago
A (New) Tax Fraud Update While there are many different types of tax violations that can land a taxpayer in the Internal Revenue Service’s crosshairs, tax fraud is still one of the most common types of tax violations that the IRS pursues. And, with increased enforcement of matters involving unreported foreign accounts, assets, cryptocurrency, and […] The post A (New) Tax Fraud Update: 7 Tax Violations to Avoid in 2024 appeared first on International Tax Attorney | IRS Offshore Voluntary Disclosure ..read more
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A New FBAR Update 2024 (Filing, Reporting, Penalty & Cases)
Golding & Golding Blog
by International Tax Lawyers
5M ago
FBAR Update  With 2024 just around the corner, our international tax lawyers will provide an updated guide regarding foreign bank and financial account reporting for the new year. The tax year 2023 brought some very important changes as to how the Internal Revenue Service can enforce penalties due to the Supreme Court case in Bittner, […] The post A New FBAR Update 2024 (Filing, Reporting, Penalty & Cases) appeared first on International Tax Attorney | IRS Offshore Voluntary Disclosure ..read more
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