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ABCast Episode 9 – International Tax Planning

Our Firm's podcast ABCast is pleased to release Episode 9 - International Tax Planning which as an overview of many legal and tax issues associated with international business, investments, financial accounts and assets.  International tax planning is essential to protect your assets while minimizing the impact of taxation.  The reporting...

IRS has Released Finalized PFIC Regulations

The IRS has released finalized PFIC regulations as well as proposed new regulations which relate to the modification of PFIC rules.  A few years ago the IRS issued temporary rules regarding ownership of Passive Foreign Investment Companies (PFIC) and how shareholders in these companies would be taxed.  The IRS has finalized...

Costly Facts About IRS PFIC Rules US Taxpayers Should Know

What are some other unfortunate and costly facts you must know about IRS PFIC rules and your investments?  There has been a growing issue with Passive Foreign Investment Company or PFIC designations by the IRS.  US taxpayers are consistently surprised to learn that their investment qualifies under IRS PFIC rules....

The IRS Begins Accepting 2017 Tax Returns

The IRS begins accepting 2017 tax returns as tax season is upon us.  Allen Barron is uniquely structured to prepare and file your international, domestic, business and personal tax returns.  Our tax attorneys are supported by Allen Barron's accounting professionals as we work toward this year's deadline of April 17. ...

Many Working in the US on an H1-B Visa Need to Understand IRS PFIC Taxation

Many professionals and scientists working in the US on an H1-B visa need to understand IRS PFIC taxation and the implications of continuing many offshore investments.  What are PFICs and why would high income professionals in the US on an H1-B visa need to understand IRS PFIC taxation rules?  The challenge...

Updates on Offshore Investments and IRS FBAR Reporting Requirements

The world is still unpacking the impact of FATCA and the IRS' intent to track offshore bank accounts, investments and corporations.  The result is continuing pressure on offshore investments and IRS FBAR reporting requirements including PFIC tax calculations and the continuing expansion of 50% penalties on specific institutions identified by...