For U.S. taxpayers receiving foreign income, it is essential to be aware of the American tax requirements for such income. The United States is the only major country that taxes its citizens and permanent residents on income earned anywhere in the world. When faced with such an aggressive government stance on foreign income, U.S. taxpayers receiving foreign income must be certain they are in legal compliance.
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Category: Offshore Account Update - Page 25
Offshore Banking Could Be Beneficial As Long As You Comply With IRS Rules
Offshore Account UpdatePosted on January 31, 2019
Placing funds in certain foreign banks and investments overseas might be sound financial planning, but there are strict Internal Revenue Service reporting rules that must be followed.
Read MoreForeign Corrupt Practices Act: Why You Need to Create Internal Controls and Procedures
Offshore Account UpdatePosted on November 30, 2018
The IRS rules can sometimes be complicated and burdensome for taxpayers to follow, so consulting with a Boston tax lawyer for advice can be important to make certain that you're following the rules. You can also read on to find some key facts you need to know about how to retire overseas without being hit with a big tax bill.Read More
Complicated Tax Laws Have Many Citizens Giving Up Their US Citizenship
Offshore Account UpdatePosted on September 28, 2018
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.
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