The Form 8938 filing requirement does not replace or otherwise affect a taxpayer’s obligation to file FinCEN Form 114 (Report of Foreign Bank and Financial Accounts). Unlike Form 8938, the FBAR (FinCEN Form 114) is not filed with the IRS. It must be filed directly...
An investigation has shown that the IRS has fallen far short of its goals in implementing the FATCA legislation. With stricter requirements, the department hopes to detect non-compliance more quickly by U.S. Citizens living and working abroad. The U.S. Tax system,...
Training and updating for continuous improvement at US Tax Consultants. Two weekly team training sessions at US Tax Consultants. Being updated on tax regulatory changes is a necessity to maintain a priority objective for our company: the level of quality of our...
All U.S. and Spanish Treaties to Avoid Double Taxation What is all about treaties or other agreements that regulate taxation. In this document we have tried to gather all the treaties and agreements that Spain has signed with different countries or entities that may...
The Foreign Account Tax Compliance Act was enacted by the Congress in 2010 as part of the Hiring Incentives to Restore Employment (HIRE) Act to combat tax evasion by US persons holding investments in offshore accounts. The United States Treasury Department and the IRS...
By Andreas Kluth at Bloomberg. August 26, 2022 Andreas Kluth is a Bloomberg Opinion columnist covering European politics. A former editor in chief of Handelsblatt Global and a writer for the Economist, he is author of “Hannibal and Me” The US Supreme Court has lately...
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