Blog
G-4 Filing a Joint Return with a U.S. Citizen Spouse….Beware
Most G-4 visa holders working full-time for international organizations are treated as nonresidents for U.S. income tax purposes (please click here for a detailed discussion of G-4 tax residency issues). If a nonresident is married to a U.S. citizen or other U.S. income [...]
U.S. Tax Residency Issues Faced by G-4 Visa Holders
Many G-4 visa holders are confused over their U.S. tax residency status. They have heard from others that simply holding a G-4 visa entitles the holder to be a nonresident. It does not! The U.S. income tax code and regulations don’t even [...]
Investing when the market is at or near an all-time high (Should I or Shouldn’t I?)
Here at Wolf Group Capital Advisors, we have noticed a strange phenomenon recently. It seems to have had its infancy in March of 2000, really grew in power during the financial crisis of 2008 and continues to this day. I am referring [...]
Should I be worried if I receive an IRS notice?
Anxiety. Dread. Annoyance. Irritation. Chances are that if you have ever received a notice from the IRS, your immediate reaction was one of these emotions—followed closely by questions like: Why me? If the IRS only audits a small percentage of returns, [...]
Changes to the Offshore Voluntary Disclosure Program and Streamlined Filing Compliance Procedures
On June 18th, the IRS implemented new changes to the requirements for both the Offshore Voluntary Disclosure Program (OVDP) as well as the Streamlined Filing Compliance Procedures (SFCP). These process changes are relevant to taxpayers who participate in these programs with undisclosed [...]
Summer 2014 – ‘Investing is Science, Craft and Art’
Download PDF “Dow Jones Hits 17,000 for the First Time after Strong Jobs Report.” Thus screamed the headlines on July 3rd of this year. Whenever the market hits a new high and passes a nice, fat, round number like 17,000, everyone [...]
Beware of Phishing Scam that Claims to be from the IRS
We have become aware of a number of phishing scams where the caller or the email sender claims to be from the IRS. These scammers employ various techniques to threaten taxpayers that they are arrested by the IRS, proceed to request them [...]
IRS’ Offshore Tax Net Continues to Tighten
Over the past several years, the U.S. government has undertaken a sustained offensive against unreported offshore assets and income. Since the 2009 deferred-prosecution agreement between the U.S. Department of Justice and UBS AG, Switzerland’s largest bank (which UBS agreed to pay a [...]
Real Estate: How Good of an Investment is it Really?
When it comes to real estate, most people have an anecdotal story of someone they know (or, better yet, someone they know who knows someone) who “struck it rich” by investing in property. While these types of self‐made real estate tycoons exist [...]
Taxation of Nonresidents’ Investment in U.S. Residential Real Estate
The taxation of U.S. rental income of a nonresident of the United States depends on whether the foreign national owner of the property is considered engaged in a “U.S. trade or business." The passive ownership of residential real property generally does not [...]
