Holding accounts in foreign banks can bring certain benefits, but it can also require close attention to tax rules in the United States. If you do not follow these rules, you may face trouble from the IRS. Many people with…
The Supreme Court recently ruled in Bittner vs. United States that federal law prescribes that maximum penalties for the non-willful failure to file a report are calculated per report, not per account. In Bittner, the Court was tasked with interpreting the…
After the presidential election, some citizens planned on renouncing their citizenship and moving abroad to Canada, or elsewhere. It would be interesting to survey those who stated this proposition to see if they followed through on their promise (or threat).…