United States citizens are legally responsible to pay taxes on income that they earn worldwide, including from overseas. They must report this income on their tax return each year. There may be serious penalties for not reporting overseas income as…
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…
At Thorgood Law Firm in New York, we are IRS attorneys dedicated to bringing legal counsel to taxpayers across the United States.
©2020, Thorgood Law Firm. All Rights Reserved. By: Pixemplary