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Author Archives: Darlene Hart

About Darlene Hart

Enrolled Agent, MTax, AIA member with 30 years experience, individual and corporate tax, accounting, financial and retirement planning. Big 4 (Deloitte, PWC).

New IRS Reporting Requirements for Foreign-Owned US LLCs

The IRS recently issued final regulations that impose reporting obligations on a domestic disregarded entity wholly owned by a foreign person.  Therefore, as of January 1, 2017, Limited Liability Companies (LLCs) formed in the United States, which are treated as disregarded entities and wholly owned by foreign persons, become subject to new IRS reporting requirements. […]

Reflections on 30 Years of US tax abroad

2016 marked the 30 years since I launched US Tax & Financial Services in London. We celebrated this milestone with parties in London and Zurich. It was wonderful catching up with old friends while meeting some new ones too. I have seen a lot of changes since 1986, not only in US tax compliance but in business […]

Post-Election Tax Policy Update from Wolters Kluwer

Given the surprise outcome of the US election last week, we can anticipate changes in US tax laws going forward.  Whether or not President-elect Trump will be successful in passing his new outlined tax legislation remains to be seen, but with a Republican majority in Congress, the path now appears more straightforward. Our current Lame […]

Viewpoint: You can run but can you still hide?

We recently posted an article titled: You can run but can you still hide?  Please find my thoughts on the subject below:  At long last the US Department of the Treasury, Financial Crimes Division has set wheels in motion for new Money Laundering Rules/Know Your Client (KYC) rules similar to those practiced by Foreign Financial […]

Viewpoint: Tax Evasion and Money Laundering: US Real Estate

We recently posted an article by one of our guest contributor’s from The Wolfe Law Group.  Please find my thoughts on the subject below: “I agree with Mr. Wolfe’s assessment of the situation.  Only I believe the US Treasury Department and congress will go one step further and will more than likely start requiring full […]

Wake up America – CHCHCHanges…

My Heart Bleeds…Wake up America! The USA continues to lead it’s charge for transparency in all tax matters, as yet another Swiss Bank is finalizing negotiations with the US Internal Revenue Service (IRS) and expects to pay a fine to US authorities as part of a deferred prosecution agreement for helping Americans evade taxes. It […]

Israeli Banks step up efforts to identify US citizens with bank accounts in Israel

As previously written here, the US is currently in active negotiations with over 50 countries and jurisdictions around the world to improve international tax compliance and implement the information reporting and withholding tax provisions commonly known as the Foreign Account Tax Compliance Act (FATCA).  These Intergovernmental Agreements (IGA) allow for an information exchange between countries […]

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