Aug 28, 2017 | Firm Updates, International Tax
In the previous post we discussed what an Individual Taxpayer Identification Number (ITIN) is and what it is used for. In this post we’ll discuss the process of applying for an ITIN. To obtain an ITIN you must file Form W-7: Application for IRS Individual...
Aug 21, 2017 | Firm Updates, International Tax
Individual Taxpayer Identification Numbers (ITINs) are tax processing numbers issued by the IRS. They are available for taxpayers who need an identifying number but are not eligible to obtain a Social Security Number. Whether they are required to be provided to third...
Aug 14, 2017 | Firm Updates, International Tax
If you have a “seriously delinquent tax debt,” the IRS is now authorized to notify the State Department of such outstanding debt. In turn, the State Department may deny your request for a passport or revoke your current passport. If you are overseas when your passport...
Jul 31, 2017 | Firm Updates, International Tax
This final installment of this blog series will discuss taxpayers who willfully have not disclosed foreign accounts or paid taxes. Taxpayers who want assurance that they will not be subject to criminal liability and/or substantial monetary penalties should consider...
Jul 24, 2017 | Firm Updates, International Tax
In this International Tax Blog series we have been discussing the implications of failing to disclose foreign accounts to the U.S. government. The required form to disclose foreign accounts is FinCEN 114, Report of Foreign Bank and Financial Accounts, commonly...
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...
