This must-attend seminar will help ensure that you are as ready as the IRS for 2014. Hosted by Best Lawyers-ranked Tier One taxation law firm Chamberlain, Hrdlicka, White, Williams & Aughtry, the event will feature presentations by Patrick Jankowski, CCR, Vice President, Research, Greater Houston Partnership, and more than 14 experts from Chamberlain Hrdlicka’s labor, … Continue reading Houston – 36th Annual Tax and Business Planning Seminar
This must-attend seminar will help ensure that you are as ready as the IRS for 2014. Hosted by Best Lawyers-ranked Tier One taxation law firm Chamberlain, Hrdlicka, White, Williams & Aughtry, the event will feature presentations by named shareholder David Aughtry, a former IRS trial attorney and the firm’s leading tax litigator for nearly 30 … Continue reading Atlanta – 28th Annual Tax and Business Planning Seminar
By Phil Karter and John Hackney In a blog posting earlier this year, we talked about the Sixth Circuit's decision in United States v. Quality Stores (Civil No. 10-1563, 6th Cir. 2012) affirming a lower court’s decision that supplemental unemployment compensation benefit (SUB) payments are not taxable as wages and are consequently exempt from FICA … Continue reading Squib Note: The Opera Isn’t Over Yet on FICA Tax Refunds Until The Supreme Court Sings
By Sebastien Chain and Tamara Woods For tax year 2011, individual taxpayers with certain specified foreign financial assets found themselves subject to a new reporting requirement, Form 8938, Statement of Specified Foreign Financial Assets. Form 8938 is required if a taxpayer has a specified foreign financial asset in excess of various thresholds. See Form 8938 – Foreign Reporting … Continue reading What is Form 8938 and How is it Different From an FBAR?
By Sebastien Chain and Tamara Woods Beginning with the 2011 tax year (i.e., for returns filed April 17, 2012 or later), individual taxpayers will be required to file Form 8938 if he or she has an interest in a “specified foreign financial asset” (“SFFA”) (click for additional information on FATCA requirements) that has a value exceeding a certain threshold. … Continue reading Form 8938 – Foreign Reporting Trap for the Unwary
By Sebastien Chain and Tamara Woods The Hiring Incentives to Restore Employment Act of 2010 (“HIRE Act”) enacted the Foreign Account Tax Compliance Act (“FATCA”). P.L. 111-47. FATCA greatly increases disclosure requirements and penalties on taxpayers with foreign accounts and assets. These reporting requirements will affect individuals beginning with the 2011 tax year, and are expected … Continue reading More Foreign Reporting for US Taxpayers? Absolutely says IRS
Apparently, there are a large number of U.S. citizens living outside the United States as well as a large number of individuals who are dual citizens of the United States and their country of residence (estimated to be in the millions). Judging from the phone calls that I have been receiving from my contacts at foreign … Continue reading Going Quietly Into The Night May Not Be The Best Idea For U.S. Citizens Living Abroad