Foreign Financial Account Archives - Page 3 of 5 - FREE Yourself from IRS Problems

Shamsey Oloko September 15, 2016 Foreign Corporations, Foreign Financial Account 0

About Form 5471

Some U.S. taxpayers may be required by I.R.C. § 6038 to file Form 5471 (Information Return of U.S. Persons With Respect to Certain Foreign Corporations) with their tax returns. To adhere to the reporting requirements of § 6038, as well…

Shamsey Oloko June 27, 2016 Foreign Financial Account, Foreign Tax Credit, Fraudulent Return, Punitive Damages, Tax Evasion, Tax Fraud 0

US To Require Banks To Disclose Owners Of Shell Companies

In the first week of May, 2016, the U.S. Department of the Treasury announced several actions to strengthen financial transparency and combat the misuse of companies to engage in illicit activities. Treasury announced a Customer Due Diligence (CDD) Final Rule,…

Shamsey Oloko May 5, 2016 FATCA, FBAR, Filing Status, Foreign Financial Account, Form 1040, Income Tax, Representation, Tax Evasion, Taxable Income 0

Increased Compliance – Record High Fbars Were Filed In 2015

Do you live abroad? Do you own an asset or bank or investment account that had an accumulated value or total exceeding $10,000 at any time in 2015 (or any year)? If so, you are required to file a Report…