If you are an American living abroad, you may have noticed in recent years that you have become subject to many complex reporting requirements and burdensome tax rules. You may have also discovered that it has become more difficult to get banks or financial institutions in the country where you live to continue to do business with you.

Managing Partner Kevin E. Thorn was recently asked by a DC news source to comment on former Trump campaign chairman Paul Manafort’s trial taking place in a federal court in Alexandria, Virginia. 

Many people benefit from having offshore bank accounts held at foreign financial institutions. Those who travel frequently or who live abroad may want a bank account at a foreign financial institution in a country where they work or do business or travel. If you want to diversify and have some of your assets held in currencies other than dollars, putting your money into a foreign bank also makes a lot of sense.

If you invest money offshore in any foreign financial institution, you should be aware of how the global crackdown on offshore tax evasion is reshaping the international banking industry. A Boston tax attorney can provide you with insight and assistance in understanding your rights as an offshore investor amidst profound regulatory changes and can help you to protect your financial situation as the IRS and other global taxing authorities crackdown on offshore investors.