Taxpayers who have financial assets outside the United States often ask this question when they are considering how (or whether) to come clean and inform the IRS about their previously undisclosed foreign financial accounts. For years, there was little public knowledge of the U.S. [...]
The U.S. income tax system is one of the most complex in the world, with over 70,000 pages of laws and regulations. In addition, the U.S. tax law provides special tax provisions that only apply to international organization (“I/O”) employees and their families. Given [...]
A little known statute authorizing the collection of comprehensive financial information of US persons with foreign investments has been receiving a great deal of attention recently particularly by those unaware of the filing requirements and associated stiff penalties for non-compliance. The information in question [...]
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 tax resident, [...]
As a result of the increasingly burdensome international tax and regulatory regime in the United States (see “IRS Eyeing International Taxpayers”), many more U.S. citizens and permanent residents are considering renouncing their citizenship or relinquishing their green cards than did so in the past. [...]
