The IRS has clearly identified legitimate reasons why "US Persons" would establish or maintain ownership in a foreign trust. However, there are significant and complex tax reporting requirements associated with US taxpayers who are beneficiaries with an investment in a foreign trust. There are specific transactional reporting requirements for those...
The Challenges of Offshore Investment Accounts
US taxpayers must be aware of the challenges of offshore investment accounts as they relate to tax liability and the ramifications of FATCA and compliance with IRS FBAR reporting. The greatest risk to US taxpayers with offshore investment accounts may be the complex accounting and legal distinctions regarding foreign investments...
Legal Services for an Evolving Business Climate
Allen Barron, through Janathan L. Allen, APC provides a complete palette of legal services for an evolving business climate here in San Diego and around the world. In addition to our tax, accounting and business advisory offerings Janathan L. Allen, APC provides legal services to support our domestic and international...
Responsibility of Amazon and Online Sellers to Indemnify California Prop 65
What is the responsibility of Amazon and online sellers to indemnify California Prop 65 risk for the platforms they wish to sell upon? Proposition 65 (often referred to simply as “Prop 65”) enforcement continues to grow increasingly challenging for those who sell products in online portals. This is especially true...