What do you need to know about offshore real estate ownership and any associated tax reporting requirements? Are you a U.S. taxpayer or U.S. resident who owns real estate outside of the United States? It may surprise you to learn that the U.S. and many individual states, including California and...
Could an Upcoming Supreme Court Case Significantly Change US Tax Law?
Could a Supreme Court of the United States (SCOTUS) case significantly change US tax law? We are closely watching the developments in Moore v United States as it carries significant issues regarding “realized” versus “unrealized” income, and the repatriation of accumulated foreign earnings. The stakes could not be higher. Realized...
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...