May 12th, 2016 by Kim Chen
All U.S. citizens and resident aliens with an interest in or signature or other authority over foreign financial accounts, whose total value exceeded $10,000 at any time during 2015, must file electronically with the Treasury Department a Financial Crimes Enforcement Network (FinCEN) Form 114 [Report of Foreign Bank and Financial Accounts (FBAR)] by 6/30/16. Beginning […]
July 1st, 2014 by Kim Chen
ALERT: July 1, Withholding Please refer to the FATCA regulations and other FATCA guidance for the rules concerning the need to identify and document account holders and payees, the need to withhold on withholdable payments (including transitional rules), and the need to report information to the IRS (or to a Model 1 jurisdiction) concerning certain […]
June 6th, 2014 by Kim Chen
Taxpayers abroad qualifying for an automatic two-month extension must file their 2013 federal income tax returns by Monday, June 16, according to the Internal Revenue Service. The June 16 deadline applies to U.S. citizens and resident aliens living overseas, or serving in the military outside the U.S. on the regular April 15 due date. Eligible […]
January 15th, 2014 by Kim Chen
It is a growing trend that more and more Canadians are purchasing second homes in Southwest Florida. They are motivated by bargain prices, the strength of their dollar, and the beach and sunshine in Southwest Florida. The acquisition of U.S. real estate by a Canadian poses significant issues including, but not limited to, U.S. estate […]
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