New IRS relief for those wanting to renounce US citizenship

On September 6, 2019, the IRS announced “Relief Procedures for Certain Former Citizens”, a new amnesty program for certain U.S. citizens who have renounced, or intend to renounce, their U.S. citizenship.   Among other requirements, you must have renounced U.S. citizenship after March 18, 2010, and have never filed a U.S. Form 1040 income tax return.  …

Canada: Relief Coming For US Citizens Living Abroad? Unfortunately, We Don't Think So

Last Updated: January 7 2019Article by Azam RajanMoodys Gartner Tax Law LLP On December 20, 2018, in the middle of the perfect storm on Capitol Hill created by the impending change in control of the House of Representatives back to the Democratic party, threatened government shutdown, and President Trump’s border wall funding demands, a bill was…

IRS CRIMINAL DIVISION NOW SEEKING NON-COMPLIANT US CITIZENS & GREEN CARD HOLDERS

The IRS Criminal Investigation (“CI”) Division is abruptly and drastically expanding its activities to locate and prosecute non-compliant US taxpayers. ACTIONS THE IRS IS TAKING International Tax Enforcement Group Don Fort, the newly appointed IRS Chief of Criminal Investigation is forming an “International Tax Enforcement Group”, in addition to a new “Nationally Coordinated Investigations Unit”.…

Congress is considering giving Americans in Canada an incredible tax break

Stay tuned, and call me if you have questions: Charles M. Bruce: This change would align U.S. rules with that of just about every other country in the world The U.S. Congress has been mulling changes in the way American individuals abroad are taxed.Canadian Press Special to Financial Post November 7, 2017 10:26 AM EST…

IRS AMNESTY FOR NON-US CITIZENS AND NON-GREEN CARD HOLDERS WHO MOVED TO THE US IN RECENT YEARS

The IRS streamlined amnesty procedures for US citizens and green card holders have been well publicized, but less mentioned has been the IRS procedure for US residents who are not US citizens and who do not have green cards. This includes people who have met the IRS “substantial presence test” in the US but have…

Ten things you need to know about passport restrictions on delinquent taxpayers

http://www.accountingtoday.com/opinion/ten-things-you-need-to-know-about-passport-restrictions-on-delinquent-taxpayers In late 2015, Congress passed the Fixing America’s Surface Transportation Act, a law that, among other things, helps the IRS collect larger tax debts. Included in the FAST Act is Section 7345 of the Internal Revenue Code, which requires the IRS to provide information to the U.S. State Department about people who owe “seriously…

New Due Date for FBARs

New FBAR Due Date Announcement (FINAL 12-16-16).pdf64.5 KB Immediate Release December 16, 2016 The new annual due date for filing Reports of Foreign Bank and Financial Accounts (FBAR) for foreign financial accounts is April 15.  This date change was mandated by the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, Public Law…