Category: Foreign Banking

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How to Deal with an IRS Revenue Officer
If you owe money in back taxes to the IRS, an IRS revenue officer (RO) may be 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. ...
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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! Continue U.S. Tax R...
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Have Money Overseas? Here’s How to Properly 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. So do you have to report...
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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...
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What IRS Foreign Asset Disclosure Program Should I Use?
Navigating the IRS’s Offshore Disclosure Programs 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 bri...
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IRS Eases Rules for Reporting Hidden Overseas Cash
Taxpayer Honesty is the Best Policy The IRS has changed the reporting requirements for those who have assets stored overseas, working to make sure that honesty is the best policy among U.S. taxpayers. Making money overseas can be exciting. Whether yo...
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Disclosing Foreign Assets: When and What to Report
Overseas Finances Subject to IRS Reporting Requirements Nowadays, international business is done at the click of a mouse. But while it can be lucrative to invest in a factory or in businesses overseas, the profits that are made and the assets purchas...
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Hiding Money Overseas? IRS Offers New Way Out
Disclosing International Finances Key to Becoming IRS Compliant 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 the tax man. Every year, business people sell pro...
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Hiding Money Overseas? Five Reasons to Come Clean
Save Money in Fines and Obtain Peace of Mind by Declaring Overseas Assets 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 t...
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Feds Give International Tax Dodgers Extra Six Months
More Time Needed to Finalize International Agreements The federal government announced in July 2013 that another delay is needed before Uncle Sam starts enforcing a law targeting international tax scofflaws. Congress passed the Foreign Account Tax Co...
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