Establishing Residency or Domicile in California Can Be Taxing

Did you know that a 2020 California FTB guideline states “if you are impacted by the COVID-19 pandemic, it is one of the factors we will consider as we apply the general rules for residency and income sourcing?”

Penalties for Non-willful Violations

Did you know you are required to file a FBAR form if you have overseas accounts? If not, you could be in trouble with the IRS.

Penalties for Willful Violations

If you knowingly did not file a FBAR form to disclose your foreign financial dealings, expect major IRS penalties or worse.

Other Important Filing Requirements for Those with International Interests

International tax compliance is complicated. Learn which forms you need to file to stay off the IRS’ radar from a top national tax attorney.

Filing Requirements for Those with an Interest in Foreign Corporations, Form 5471

Having interest in foreign corporations is not illegal. Failing to disclose it is. A top tax attorney explains why you need to file IRS Form 5471

Filing Requirements for Those With Foreign Assets, Form 8938

IRS Form 8938 is required if you have foreign assets. An experienced tax attorney explains when you need to file Form 8938 and how to complete it.

International Tax Considerations for Individual 1040 Filings

When you file your Form 1040, do not omit information about any overseas holdings you have. Confused? Learn what to do to avoid problems with the IRS.

Types of Foreign Income that Trigger Filing Requirements

If you are a nonresident but earn income from U.S. sources, then you owe taxes to the IRS. Read this advice from a top U.S. tax attorney.

How Are Transfers of Property Taxed in a Divorce?

Under 26 U.S. Code §1041, you typically have a 6-year window of time from the date your divorce is finalized to make a transfer that is not subject to taxation. Once you go beyond 6 years, you are looking at two individuals that are divorced.

How to File Delinquent International Tax Returns

If you are not in need of the Streamlined Procedures because you do not owe additional tax, and you have reasonable cause for not filing an informational return, you may file the delinquent international tax returns along with an explanation of the facts that support your claim of having reasonable cause for failing to file on time.