Blog Profile / Expat Tax Professionals

Filed Under:Society & Culture / Expats
Posts on Regator:42
Posts / Week:0.5
Archived Since:August 24, 2016

Blog Post Archive

Higher Court Decision Confirms – FATCA Is Here to Stay

By Ephraim Moss, Esq. & Joshua Ashman, CPA   The linchpin legislation of the U.S. government in its effort to combat tax evasion abroad over recent years has been the Foreign Account Tax Compliance Act (FATCA). Last week, the latestShow More Summary

How the Streamlined Program Is Leaving Many Snowbirds Out in the Cold

By Ephraim Moss, Esq. & Joshua Ashman, CPA   For many U.S. expats who are delinquent in their expat tax filings, the Streamlined Procedures offer a great solution for catching up with limited or no penalties.  Due to the StreamlinedShow More Summary

Browser Beware! IRS Cautions Against Overreliance On Its Website

By Ephraim Moss, Esq. & Joshua Ashman, CPA In a recently-posted blog, National Taxpayer Advocate Nina Olson discussed the potential pitfalls of treating information on the IRS’s website, such as its FAQs pages, as authoritative. TheShow More Summary

IRS Releases More Details on Passport Revocation Rule For Unpaid Taxes

By Ephraim Moss, Esq. & Joshua Ashman, CPA In our blog from back at the end of December of 2015, we discussed a newly-enacted Code Section 7345 of the Internal Revenue Code, which authorizes the denial, revocation, or limiting of a delinquent taxpayer’s U.S. Show More Summary

Court Blocks Taxpayer Attempt to Transfer from OVDP to Streamlined Program

By Ephraim Moss, Esq. & Joshua Ashman, CPA In a very recent decision (Maze v. IRS), the D.C. Circuit Court of Appeals upheld a lower court decision blocking several taxpayers’ efforts to leave the OVDP tax amnesty program and enter the friendlier IRS Streamlined program without utilizing the required transition rules. Show More Summary

Renouncing US Citizenship and the Dual Citizen Exception to the Exit Tax

By Ephraim Moss, Esq. & Joshua Ashman, CPA According to Treasury Department numbers, 2016 broke the record for annual U.S. citizenship renunciations with a grand total of 5,411 renunciations. As we’ve noted previously, possible reasons...Show More Summary

The IRS Tax Amnesty Programs – Fact or Fiction

By Ephraim Moss, Esq. & Joshua Ashman, CPA Despite the overall success of the IRS tax amnesty programs in recent years, many expats remain hesitant to enter the programs due to a number of misunderstandings surrounding their requirements and their outcomes. Show More Summary

Roth IRA Taxation for Expats in Canada

By Ephraim Moss, Esq. & Joshua Ashman, CPA   The importance of income tax treaties should not be underestimated when considering the U.S. tax implications of living abroad. U.S. and foreign tax laws often fall short of ensuring that U.S. Show More Summary

IRS Crackdown on Foreign Accounts and the Future of the Tax Amnesty Programs

By Ephraim Moss, Esq. & Joshua Ashman, CPA With the recent heavy focus on Congress and the Trump’s administration’s tax reform proposals, it can be easy to forget that the IRS continues to proactively crackdown on offshore tax evasion. Show More Summary

Taking Advantage of the Weaker British Pound to Reduce Adverse PFIC Implications

By Ephraim Moss, Esq. & Joshua Ashman, CPA One of the major economic fallouts of last year’s Brexit referendum was the sudden and significant depreciation of the British pound.  Over the past week, the pound fell sharply again following the unexpected results of the most recent U.K. Show More Summary

Selling Your Foreign Residence – Expat Tax Filing Considerations

By Ephraim Moss, Esq. & Joshua Ashman, CPA One of the more common issues that our clients face in their expat tax filings is determining the proper tax treatment of the sale of their personal residence abroad.  The following are some of the key U.S. Show More Summary

Turbo Tax Defense Fails Again in Tax Court

By Ephraim Moss, Esq. & Joshua Ashman, CPA As we’ve blogged about previously, self-preparing your tax return can be a risky endeavor, especially for U.S. expats with heightened reporting obligations. Expat taxpayers are particularlyShow More Summary

Court Revisits Willful Requirement in Applying Enhanced FBAR Penalties

By Ephraim Moss, Esq. & Joshua Ashman, CPA A recent U.S. District court case has again shone a spotlight on the lack of a clear statutory or regulatory definition of “willful” for purposes of applying the more severe penalties for failure to file the FBAR. Show More Summary

IRS Chief Counsel Advises That OVDP Participants Cannot Utilize Refunds Unless Amended Return Is Timely Filed

By Ephraim Moss, Esq. & Joshua Ashman, CPA In a recently published Chief Counsel Advice, the IRS chief counsel’s office offered advice to taxpayers participating in its amnesty programs regarding the issue of whether refunds for past overpayments of tax can be used to offset additional taxes or penalties triggered under the program. Show More Summary

The Trump Tax Plan and Its Potential Consequences for US Expats

By Ephraim Moss, Esq. & Joshua Ashman, CPA The Trump administration has revealed its official tax reform plan.  While it’s clear that the plan would make drastic changes to the current U.S. tax system, the brevity of the plan leaves a host of ancillary issues and details either unclarified or unaddressed in the one-page document. Show More Summary

Dealing with Delinquent FBARs – The Solution May Be Easier than You Think

                    by Joshua Ashman, CPA If you are a U.S. citizen or resident with an offshore account and have been delinquent in filing the FBAR, a relatively painless solution may be available to you.  But before we get to the good...Show More Summary

Final Regulations Clarify and Modify Exceptions to PFIC Reporting

By Ephraim Moss, Esq. & Joshua Ashman, CPA The IRS recently finalized regulations, previously in proposed and temporary form, which provide guidance on determining the ownership of a passive foreign investment company (PFIC) and the reporting obligations of PFIC owners. Show More Summary

Streamlined Foreign Offshore Compliance Procedure

The new streamlined foreign offshore compliance procedure for non-US residents allows you to start fresh with the IRS with reduced or even zero penalties. But the IRS can change the terms & conditions of this program – or even cancel it – at any time. Show More Summary

To Streamline or Not to Streamline: That Was the Question for This U.S. Expat

By Ephraim Moss, Esq. & Joshua Ashman, CPA Currently, an estimated 8.7 million U.S. citizens are living abroad. (1) A growing number of these expats have begun to realize that their U.S. tax obligations did not end upon their change in residency. Show More Summary

2016 IRS Data Book Shows Chances of Being Audited

By Ephraim Moss, Esq. & Joshua Ashman, CPA The IRS has published the 2016 version of its annual IRS Data Book, which contains statistical information about the IRS and taxpayer activities during the previous year.  The IRS Data Book helps illustrate the breadth and complexity of the U.S. Show More Summary

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