Article by Lance Wallach Have A Foreign Bank Account? FBAR Deadline is here. Filing deadline for the IRS’s offshore tax amnesty (called the Offshore Voluntary Disclosure Initiative). IF you don’t comply you will get caught.For those with current offshore accounts, the deadline to file the annual Report of Foreign Bank and Financial Accounts (“FBAR”) is … Read more
What might you be guilty of doing that could potentially disqualify your 1031 exchange transaction? Here are a few reasons you could be putting your exchange at risk. Choosing a Qualified Intermediary that is actually a disqualified person. Someone who is acting as your agent at the time of the transaction is disqualified from acting … Read more
Over the last year, the United States government has taken a great interest in undisclosed foreign bank accounts. Individual taxpayers who file U.S tax returns, and who have any offshore or foreign accounts must report income from these offshore accounts on their income tax returns. They must also declare any offshore or foreign bank accounts … Read more
Do you prepare your own income tax return to save cash on preparation? If you do, or you are figuring on using this strategy on your next return, there are a couple of things that you should really know which will help you to avoid making pricey income tax mess ups. Errors that will cost … Read more
E-filing has the potential to make tax returns (blank) simpler and easier for the nerves of taxpayer by the end of the economic year. It’s risk-free, easy and best method of electronic filing or completion of Tax Return via internet software. E-filing is the best and fastest solution to file income tax returns as it … Read more