The complications of reporting foreign financial activities means that taxpayers can discover they need to fix their foreign tax filings after the fact.
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Fixing Foreign Filing Errors With The IRS
Tag Archives: International (Sentinel)
Retiring To A Simpler Life Abroad Is Not So Simple
Moving abroad may affect your retirement plans. Workers in the process of saving for retirement and retirees trying to prudently budget their existing savings should both approach an overseas move, whether temporary or permanent, with care.
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Tax Consequences Of Expatriation
The United States’ worldwide approach to taxes can be burdensome, but expatriation is not a decision to make lightly. If tax considerations are your main motivation, know that the IRS will do its best to make your departure as painful as it can.
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Will Population And Portfolio Growth Coincide In Africa?
Could the next Facebook or Google start somewhere in Africa? Of course – in theory. But for many countries, the deck is stacked against it, despite growing populations.
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Qualified Domestic Trusts And Portability
Married couples may want to consider a qualified domestic trust, or QDOT, to ensure Uncle Sam doesn’t cut in on their estate planning if one of the spouses is not an American citizen.
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The Dollar Holds Its Place
The U.S. dollar has begun to recover. But worries that the greenback might be in immediate danger of losing its primacy in the world economy were overblown even before this comeback.
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How To Reduce FIRPTA Withholding
Foreign buyers purchased a record $153 billion of U.S. real estate during the 12 months ending in March 2017, according to the National Association of Realtors®. As these buyers secured their pieces of the American dream, they may not have realized that Uncle Sam will want his share when it comes time to sell.
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Reporting Requirements For Foreign Assets
The term “offshore accounts” is often used as shorthand to suggest that such account holders are trying to dodge tax responsibilities. Especially after the Panama Papers, many observers are quick to assume the worst when someone holds assets outside of the United States. In reality, many, if not most, taxpayers who hold foreign assets do so in good faith for a variety of legitimate reasons. However, depending on the type of property in question and the taxpayer’s overall situation, keeping the Internal Revenue Service adequately informed can prove challenging.
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The EB-5 Program: What Foreign Investors Should Consider
For the right investor, the U.S. EB-5 Immigrant Investor Program can be a sensible path to securing permanent residency in the United States.
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U.S.-Canada Tax Issues
Americans and Canadians frequently run into their neighboring country’s tax laws. Although dealing with international tax concerns is often complicated, a special relationship between the United States and Canada offers some protection for citizens who earn income or conduct business in both countries.
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