Our offices have handled many cases recently of foreign nationals and spouses with offshore accounts and assets who were not aware of their IRS FBAR reporting requirements. Unfortunately ignorance of IRS FBAR reporting is not a defense and the IRS is ruthlessly pursuing huge penalties and interest for those who...
Strong and Experienced Legal Counsel for San Diego Businesses
Allen Barron provides strong and experienced legal counsel for San Diego businesses and business owners. Our unique integrated service offering provides a one-stop source for any business related matter. The integrated legal, tax, accounting, estate planning and business advisory services ensure you receive a complete answer to your questions, opportunities and challenges...
Taxation of Pass Through Income Versus Salaried Earnings
There is a lot of confusion surrounding the taxation of pass through income versus salaried earnings as US taxpayers assess their positions after tax reform. This is far from "finished" and a wild roller-coaster ride is about to ensue for many US taxpayers. How will you know what to do? ...
IRS and Bitcoin – Do Crypto Currencies Need to be Reported on the FBAR
The IRS believes that virtual currencies such have Bitcoin have become a tool in tax evasion, and the agency is signalling more enforcement actions and IRS audits in the coming months. The real question many crypto currency investors must consider is do crypto currencies need to be reported on the...