img

If you receive a letter marked from the IRS or the U.S. Treasury, then you are one of millions of individuals who will received the mailing of letters from the U.S. Government and there are many and varied reasons why you may be one of these millions of individuals selected to receive a letter. The suggestions that I am listing below may seem to lack common sense, but I have seen just such happenings that occur when you experience unexpected IRS mailings mixed with the normal stresses of the day.

First, with the IRS envelope in hand, take a deep breath, find a few minutes where you will be able to focus and have a note pad and pen nearby for making notes.

This letter is a personal communication to the addressee. If this letter is not addressed to you, then don’t open it!

img

On the matter of filing the FBAR, the U.S. Treasury’s Financial Management Services provides the exchange rates for you to use when converting foreign account balances for reporting on form 114. In too many instances, individuals us the internet for conversion rates or the IRS conversion rates, so be sure to go onto the Treasury’s website listed below.

Also, there has been an inclusion of other financial instruments to be reported on form 114, which is now labeled “Foreign Bank and Financial Account Reports” a change from the long-standing “Foreign Bank Account Report”. You may want to note that a reportable financial account now includes, but is not limited to, a securities, brokerage, savings, demand, checking, deposit, time deposit, or other account maintained with

img
Under a law passed by Congress in 2015, the Department of State is required to deny an individual’s passport application and is authorized to revoke or limit an existing passport if the IRS has certified the individual as having a seriously delinquent federal tax debt (i.e., a federal tax debt exc
img

The Internal Revenue Service (IRS) has formally announced its intent to start enforcing its passport revocation powers against US persons who owe more than USD 51,000 in taxes and penalties.

The Fixing America’s Surface Transportation Act (FAST Act), signed into law in December 2015, requires the IRS to notify the US State Department of those taxpayers the IRS has certified as owing a “seriously delinquent tax debt”.

The State Department must then deny their passport application or renewal request, or even revoke an existing passport.

“Seriously delinquent tax debt” is classified by the IRS as “more than USD 51,000 in back taxes, penalties and interest, for which the IRS has filed a Notice of Federal Tax Lien and the period to c

img
One wonders whether it is beneficial to remain out of the U.S. Tax Return filing compliance system or seriously consider being in compliance with U.S. laws on filing a U.S. Tax Return. Of course, one of the best methods in making this determination is to seek experienced and wise counsel to assist a
img
Margaret Chappell created a trust in 2010 and amended it three times before succumbing to cancer in 2016. In the original trust she left everything to her boyfriend, Jose Aviles, on her death. The subsequent amendments changed the distribution provisions with the third amendment naming Tracy Swearin