What are the tax issues of working in San Diego on an H1-B Visa or living in the US as a foreign national? There are specific IRS reporting requirements that many foreign nationals living and working in the United States may not be aware of. Unfortunately, the IRS will not...
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Is the US the New Tax Haven
Is the US the new tax haven now that the world is following international disclosure laws? After pushing FATCA and international banking reporting requirements on more than 110 nations worldwide, the US is ironically resisting global disclosure standards. This is much to the dismay of many former Swiss and european...
Wall Street Journal Warns Offshore Account Holders to Fear the IRS
A major US financial newspaper today echoed Allen Barron's repeated warnings to offshore account holders to fear the IRS and impending IRS audits. The Wall Street Journal (WSJ) today issued a daunting warning to US taxpayers with offshore bank accounts, investment accounts and assets: "Are You Hiding Money Overseas from...
Is a Standardized Transfer Pricing Policy a Social Responsibility?
An interesting article in the New York Times recently raised the issue of a standardized transfer pricing policy as a social responsibility. In today's global economy the issue of transfer pricing has become a central focus for many governments, including the United States. The IRS recently announced the formation of...
IRS Battle with Bitcoin Gets Political
The ongoing IRS battle with bitcoin gets political as GOP legislators jumped into the fray today. You may remember a piece we did earlier this year regarding the IRS going after bitcoin exchange Coinbase. GOP legislators sent a strongly worded letter to the agency asking whether the "IRS has a...
Consider the Tax Ramifications of Your San Diego Divorce
While many people are obviously concerned about core issues such as child custody and parenting time and support payments, you should consider the tax ramifications of your San Diego divorce before signing a settlement agreement. Allen Barron's seasoned tax attorneys and accounting professionals work with your family law or divorce attorney...
San Diego Executors and Trustees are Personally Liable
San Diego executors and trustees are personally liable for their actions during the administration of an estate or trust. When you are asked by a friend or family member to serve as the executor of their will or as a trustee it is perhaps one of the greatest compliments one...
The IRS Wrongfully Seized Millions from Legal Business
The Treasury Inspector General for Tax Administration (TIGTA) has found the Criminal Investigation Unit of the IRS wrongfully seized millions from legal business entities and individuals. The investigation was opened after several complaints were filed in 2014 regarding IRS seizures of property or bank levies without evidence of a crime....
IRS Audits Focused Upon OVDP Declines and Withdrawls
A new IRS Large Business & International (LB&I) campaign targets US taxpayers for IRS audits focused upon OVDP declines and withdrawls from the FBAR related program. Once the IRS implemented FATCA based regulations and the associated Foreign Bank Account Reporting (FBAR) requirements US taxpayers were required to disclose all offshore...