In August 2010 the US Congress passed legislation (known as FATCA) that requires foreign financial institutions and companies that invest in the US to report to the IRS their US account holders and investors. Failure for these companies to comply with this requirement will result in a 30% US tax on their US income and […]

The IRS has issued an updated foreign assets chart listing the latest requirements for filing Foreign Assets Form 8938 for the 2011 calendar year and TD F 90-22.1. Determining the Reporting Threshold That Applies to You… The IRS has provided guidance with respect to the thresholds that apply to taxpayers requirements for filing the form. […]

Credit Suisse Issues US Tax Compliance Form to its Clients In the ongoing battle of Swiss banking secrecy, FATCA regulations and the tides of disclosure and compliance requirements, Credit Suisse has made one of their boldest moves to date. In an effort to shift the compliance burden on account holders, Bloomberg recently announced that Credit […]

PLEASE NOTE: THERE HAVE BEEN SEVERAL UPDATES SINCE THIS POST AND SOME LINKS HAVE BEEN DISABLED AS A RESULT. PLEASE READ THE LATEST INFORMATION HERE. Non-compliant Americans overseas now have five simple choices available. US citizens, residents and green card holders are required to file annual US tax returns whether or not they live in the […]