Category: Featured Articles

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If you are considering the New IRS Voluntary Disclosure Program, what questions should you be asking of yourself and your Legal Counsel?

On November 20, 2018, the U.S. Internal Revenue Service, (IRS) issued its Memorandum that addresses the process for all domestic and offshore voluntary disclosures following the IRS’s official closing of the Offshore Voluntary Disclosure Program just this September 28, 2018.

The new voluntary disclosure practice enables U.S. taxpayers, which are:

S. Citizen worldwide; S. Tax Residents in the U.S. Green-Card Holders

whether residing in the U.S. or abroad, with exposure to criminal liability or substantial civil penalties due to a willful failure to report foreign financial assets and pay all tax due thereon, a way to comply w

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As income tax filing season approaches, the U.S. Commodity Futures Trading Commission (CFTC) is warning investors to be cautious of sales pitches touting “IRS approved” or “IRA approved” virtual currency retirement accounts. BACKGROUND: IRAs are retirement accounts that provide investors wit
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The Internal Revenue Service terminated its 2014 Offshore Voluntary Disclosure Program (OVDP) September 28, 2018.

“Taxpayers have had several years to come into compliance with U.S. tax laws under this program,” said Acting IRS Commissioner David Kautter. “All along, we have been clear that we would close the program at the appropriate time, and we have reached that point.”

Since the OVDP’s initial launch in 2009, more than 56,000 taxpayers have used one of the programs to comply voluntarily. All told, those taxpayers paid a total of $11.1 billion in back taxes, interest and penalties. The planned end of the current OVDP also reflected advances in third-party reporting, such as banks located overseas, and increased awareness of U.S. taxpayers of their offshore ta

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Today, September 4, 2018, t he Internal Revenue Service, IRS, provided a notice that Americans have until September 28, 2018, just over 3 weeks, to apply for the Offshore Voluntary Disclosure Program (OVDP). I know there are may Americans that have not come forward under one of the many alternatives
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Living abroad can be very exciting, however maintaining your life and finances can become quite complicated.

Our global group can help keep you in check. The basic goals are understanding and organizing your financial situation for people who live abroad, hold green cards, maintain dual citizenship, are expatriates and maintain property outside of their homestead.

Here are some questions that you may want to ask us when you call for your consultation to see if there is a strategy for applied Asset Protection and Tax Compliance in your situation.

Are there any tax treaties that I am not taking advantage of? Am I taking full advantage of the Foreign Earned Income Credit? Have I filed properly in all countries? Have I calculated the maximum deductions allowed by law? Is
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What is a Trust Protector? Definition of a Protector:  One who serves as the champion; the overseer of the trust. The position of a trust protector is not normally encountered in domestic U.S. trusts, however this is changing, but the position is very common in other common law jurisdictions. Under