by Ross Lustman | May 8, 2023 | News
On April 3, 2023 the United States Tax Court issued a ruling that may have profound consequences for US citizens with interest in overseas corporations. In Farhy v. Commissioner, 160 T.C. No. 6, the Tax Court held that the IRS did not have statutory authority to...
by bayonetta | Jan 30, 2013 | Information, News
It has become increasingly difficult for U.S. citizens to open bank accounts overseas. The reason is that the IRS has started to implement the Foreign Account Tax Compliance Act, or FATCA for short. FATCA was passed in 2010 in an attempt to prevent overseas tax...
by bayonetta | Jan 24, 2013 | Information, News
After months of wrangling, negotiating, and one expensive election, Congress and President Obama finally agreed on a partial deal to avert the so called Fiscal Cliff. The Fiscal Cliff was a set of tax increases and spending cuts that would have gone into effect on...
