By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Monday, November 3, 2014. The Internal Revenue Service wants to collect taxes on income earned outside of the United States. The Foreign Account Tax Compliance Act ("FATCA") is one method that the IRS and the U.S....
What is “Willful” Versus “Non-Willful” Conduct to the IRS and How Does That Affect FBAR Taxpayers?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Wednesday, July 2, 2014. The difference between a determination of "willful" versus "non-willful" conduct by the IRS is the difference between a 50% penalty calculation and potentially a 5% penalty for FBAR violations. There are thousands...
US Taxpayers Need To Carefully Consider Claiming “Non-Willful” Conduct on OVDP Applications
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Wednesday, July 9, 2014. US resident taxpayers and US expatriates need to exercise caution when considering a claim of non-willful conduct during OVDP submissions to the IRS. The IRS has clearly communicated that it intends to...
US Expatriates and Foreign Nationals Living and Working in the US Should Pay Close Attention to FBAR This Year
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Wednesday, June 11, 2014. The Foreign Bank Account Report or FBAR is due June 30, and we are advising US expatriates, and all those with foreign accounts or assets to carefully consider the information they are...
Precious Metals, Foreign Income Producing Properties, Swiss Accounts, it No Longer Matters – The IRS has Access to Your Information
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Friday, June 6, 2014. There have been many potential strategies to protect income and assets offshore, including investing in gold and silver, renting out previous residences while in the US, or secreting assets in Swiss Accounts....
New Streamlined Domestic Offshore Procedures for the OVDP Provide a Genuine Alternative for Resident US Taxpayers with Foreign Assets and Accounts
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Friday, June 27, 2014. The IRS released a major announcement last week that provides new Streamlined Domestic Offshore Procedures for the IRS OVDP for Resident US taxpayers. The new guidelines take effect July 1, 2014 and...
Five Reasons Your Business Might Need a Non-Disclosure Agreement
On behalf of Janathan L. Allen, APC posted in Management Advisory Services on Thursday, August 23, 2012. If your company needs nondisclosure agreement help, you're not alone. These agreements, also known as confidentiality agreements, are rather common in a number of industries. This is a special type of legal contract...
Whom to Turn to When You Need Assistance with Wills and Trusts
On behalf of Janathan L. Allen, APC posted in Management Advisory Services on Thursday, July 12, 2012. There comes a time when we could all use some wills and trust help to get our final affairs in order, because handling these financial matters alone is just too difficult. Not only...
Check Your Computers Before Monday’s Internet Blackout!
On behalf of Janathan L. Allen, APC posted in Management Advisory Services on Thursday, July 5, 2012. Even if you have antivirus software on your computer, you could still lose connection to your internet come Monday. Thankfully, the fix is simple and all it takes is one visit to a...