Month: June 2015
June 26, 2015
In recent years, the IRS, Department of Treasury, and other U.S. regulatory agencies have focused on implementing/enforcing reporting programs to ensure U.S. citizens with foreign income are submitting proper reports to the IRS. One of the reports, the Report of Foreign Bank and Financial Accounts (FBAR) is required to be submitted to the Department of Treasury by June 30, 2015.
June 25, 2015
The IRS has recently made some changes to their streamlined offshore compliance program. These changes allow, for the first time, certain U.S. taxpayers that reside in the U.S. to be eligible for the program. Since this is the most significant change, we will first discuss which U.S. taxpayers that reside in the U.S. are eligible to participate in the program.
June 22, 2015
At one point the top hat was commonly found throughout American history and pop culture. During the 19th century, it served as a symbol of freedom sitting atop President Abraham Lincoln’s head as he navigated the country through the Civil War.