Tuesday
Sep112012

Streamlined Filing Compliance Procedures for Non-Resident, Non-Filer Taxpayers Questionnaire

The IRS has released a questionnaire to help U.S. citizens residing overseas, including dual citizens, catch up on their filing obligations, such as the filing of U.S. federal income tax returns or Form TD F 90-22.1, "Report of Foreign Bank and Financial Accounts." In June the IRS announced streamlined filing compliance procedures for nonresident U.S. taxpayers, effective September 1. The procedures are designed for taxpayers that present a low compliance risk.

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Tuesday
Sep112012

Instructions for New Streamlined Filing Compliance Procedures for Non-Resident, Non-Filer U.S. Taxpayers

The IRS has released instructions to help U.S. citizens residing overseas, including dual citizens, catch up on their filing obligations, such as the filing of U.S. federal income tax returns or Form TD F 90-22.1, "Report of Foreign Bank and Financial Accounts." In June the IRS announced streamlined filing compliance procedures for nonresident U.S. taxpayers, effective September 1. The procedures are designed for taxpayers that present a low compliance risk.

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Friday
Aug312012

New Procedure for Nonresident Taxpayers Filing Delinquent FBARs

The IRS has posted to its website the new procedure for nonresidents who have not filed U.S. income tax and information returns to file delinquent returns. Taxpayers using the procedure, which is effective September 1, must file delinquent tax returns for the past three years and delinquent foreign bank account reports for the past six years.

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Thursday
Feb022012

Hong Kong Budget

The Hong Kong government has proposed its 2012-2013 budget in which it cuts tax rates on businesses and individuals in an attempt to bolster an economy that has seen growth rates decline as crises in its trading partners weakened demand for Hong Kong's exports.

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Wednesday
Feb012012

Tax Fraud Indictment Against UBS Clients

UBS clients Stephen M. Kerr and Michael Quiel and former San Diego attorney Christopher M. Rusch have been charged with conspiracy to defraud, and Kerr and Quiel have been charged with filing false tax returns and failure to file Reports of Foreign Bank and Financial Accounts, the U.S. Justice Department announced on January 30.

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