Sciarabba Walker Blog
The information in these blog posts is provided for general informational purposes only and is not intended to substitute for accounting, tax, or financial advice from a professional accountant. While we use reasonable efforts to furnish accurate and up-to-date information, we do not warrant that any information contained in or made available through this blog is current or error free. No part of this communication is intended to be used for the purpose of avoiding penalties under U.S. federal tax law.
IRS Cautions Taxpayers to Watch for Summertime Scams
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...
Foreign Accounts: Disclosure Requirements and Options
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:...
Summer is a good time to start your 2017 tax planning and organize your tax records
You may be tempted to forget all about taxes during summertime, when “the livin’ is easy,” as the Gershwin song goes. But if you start your tax planning now, you may avoid an unpleasant tax surprise when you file next year. Summer is also a good time to set up a...
Claiming a federal tax deduction for moving costs
Summer is a popular time to move, whether it’s so the kids do not have to change schools mid-school-year, to avoid having to move in bad weather, or simply because it can be an easier time to sell a home. Unfortunately, moving can be expensive. The good news is that...
Expatriation – The Disillusioned Part II
Last week we began the story of John and Jane Farkle, U.S. citizens who had decided to expatriate (i.e., renounce their U.S. citizenship) after becoming disillusioned with the U.S. political climate. Unfortunately, the more they learned about the expatriation process...
2017 Q3 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you are meeting all...
Expatriation – The Disillusioned Part I
Over the last couple of weeks we have been discussing the expatriation process. A citizen or long-term resident who wishes to permanently sever ties with the United States (i.e. expatriate) must take certain legal steps and pay any taxes due to the United States....
Pay attention to the details when selling investments
The tax consequences of the sale of an investment, as well as your net return, can be affected by a variety of factors. You’re probably focused on factors such as how much you paid for the investment vs. how much you’re selling it for, whether you held the investment...
Expatriation – The French Vintner
Last week we discussed the process of abandoning U.S. citizenship or lawful permanent resident status. This expatriation process involves legal steps as well as related tax filings. Depending on the financial status of the expatriating taxpayer, an expatriation tax...
Beware of “Taxes Owed” Scams
The Internal Revenue Service (IRS) continues to see an increase in collection scams in which scammers contact taxpayers and demand immediate payment for “taxes owed.” Here are some tips to help you determine if the person contacting you is truly an IRS employee: In...