Own an LLC? NEW Beneficial Owner Reporting may be Required

January 1, 2024 – FinCEN has begun accepting Beneficial Owner Reporting Beneficial Owners, i.e., the individuals who ultimately own or control the LLC will have to report their information to the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau...

Hiding Money or Income Offshore

This post courtesy of IRS News Release: “Hiding Money or Income Offshore Resides on the IRS ‘Dirty Dozen’ List” IR-2016-17, Feb. 5, 2016 WASHINGTON — The Internal Revenue Service today said avoiding taxes by hiding money or assets in unreported...

Offshore Amnesty Programs Generate $8 Billion USD

$8 Billion USD Collected Amnesty This headline was so compelling, I had to share the IRS press release verbatim.  Dated October 16, 2015  IR-2015-116 WASHINGTON — With more than 54,000 taxpayers coming in to participate in amnesty offshore disclosure programs since...

Last minute FBAR notice

Last Minute: File FBAR by Tuesday June 30 This is a last minute reminder to get your FBAR electronically filed.  Filing deadline is next Tuesday, June 30.  US Citizens living abroad may have an obligation to electronically file a Foreign Bank and Financial Accounts...

Need more time to File 2014 US Tax Return?

If you’re a US citizen living abroad, you receive an automatic filing extension of 15 June.  If you’re not ready to file your US taxes by next week’s filing deadline, you can easily get a tax filing extension until 15 October by filing Form 4868....