Author Archives: steinbergtaxlaw

PARADISE LOST: THE “PARADISE PAPERS LEAK REVEALS MODERN DIGITAL AGE TRUTHS – (1) ALL FINANCIAL RECORD CAN BE HACKED. 92) THERE ARE NO CYBER SECRETS.  AN OVDP SOLUTION FOR OFFSHORE NONCOMPLIANCE

In John Milton’s epic biblical poem “Paradise Lost,” the fall of Man is depicted. The Devil is banished to Hell.   The Modern Wealthy Man has had his own fall.  The morality-play today devolves around tax-evasion and the loss of privacy. … Continue reading

Posted in Uncategorized | Leave a comment

DEPARTMENT OF JUSTICE ANNOUNCES FBAR GUILTY PLEA OF GREEN CARD HOLDER

On October 26, 2017, Hyung Kwon Kim (Kim), a Greenwich, Connecticut man pleaded guilty to failing to report funds he maintained in foreign bank accounts to the Department of Treasury. The DOJ Press Release was announced Acting Deputy Assistant Attorney … Continue reading

Posted in FBAR PENALTIES, OFFSHORE VOLUNTARY DISCLOSURE PROGRAM, Uncategorized | Tagged , , , , , , | Leave a comment

THE HOUSE TAX REFORM BILL WOULD REPEAL THE ALIMONY DEDUCTION

The House of Representatives has revealed its Tax Reform Plan encapsulated in The Tax Cuts and Jobs Act (HR 1) The House Committee on Ways and Means Section by Section Summary describes the provision on Alimony as follows: Sec. 1309. … Continue reading

Posted in DIVORCE, DIVORCE TAX, Uncategorized | Tagged , , | Leave a comment

WHEN IS A JOINT RETURN DEEMED TO HAVE BEEN FILED?

The Tax Court decision in Victor A. Edwards v. Commissioner, TC Summary Opinion 2017-52 contains an instructive discussion of the rules applicable to determining whether a valid joint return has been filed. Bear in mind that this is a summary opinion … Continue reading

Posted in DIVORCE, DIVORCE TAX | Tagged , , , | Leave a comment

U.S. EXPATRIATES FEEL ABUSED BY FATCA AND OPPRESSIVE TAX REPORTING REGIME

I receive calls every day from U.S. Citizens living abroad who have recently learned that they are not compliant with U.S. tax filing and reporting obligations. They are angry, confused and frustrated. They’ve never heard of these requirements before getting … Continue reading

Posted in STREAMLINED FILING COMPLIANCE PROCEDURES, STREAMLINED FILINGS | Tagged , , , , | Leave a comment

SOME COMMON MISCONCEPTIONS ABOUT THE STREAMLINED FILING COMPLIANCE PROCEDURES

I receive many inquiries about Streamlined Filings from U.S. citizens or Green Card holders living outside the U.S. as well as from recent immigrants to the U.S. or work visa holders living inside the U.S. In all of these cases, … Continue reading

Posted in 2014 OVDP, AMENDED RETURNS, FBARS, OFFSHORE BANK ACCOUNTS, STREAMLINED FILING COMPLIANCE PROCEDURES, STREAMLINED FILINGS, Uncategorized | Tagged , , , , , | Leave a comment

FEATHER THEME

Source: FEATHER THEME

Posted in Uncategorized | Leave a comment