Jul 17, 2017 | Firm Updates, International Tax
Many people are surprised to learn that they actually do have foreign accounts to report and should have been reporting them for some time. The required reporting form is the FinCEN 114, Report of Foreign Bank and Financial Accounts, commonly referred to as the FBAR...
Jul 11, 2017 | Firm Updates, Tax Tips
Now that we’ve hit midsummer, if you own a vacation home that you both rent out and use personally, it’s a good time to review the potential tax consequences. If you rent it out for less than 15 days: You do not have to report the income. But expenses associated with...
Jul 10, 2017 | Firm Updates
Scams continue to be a problem for the IRS and taxpayers. Here are four recent scams to be aware of so you do not become a victim of the ever more sophisticated scammers: EFTPS scams. Con artists claim to be from the IRS and say that two certified letters mailed to...
Jul 10, 2017 | Firm Updates, International Tax
When people read the words “IRS” and “foreign account,” their first thought often is to ignore it, because they do not think it applies to them. However, many people are surprised to learn that they actually do have foreign assets to report. Here are some examples:...