Well, it depends, the Model 720 must be re–submitted only if: Any of the assets declared in the last Modelo 720 has been cancelled at any time in the year 2024. There is an increase in aggregate amount established for each block of information (bank accounts,...
The National Taxpayer Advocate 2023 Annual Report to Congress highlights how Taxpayers abroad are underserved and continue to face challenges in meeting their U.S. tax obligations. As a result, the National Taxpayer Advocate has prioritized compliance challenges for...
The first results of the revived IRS program are announced: Rich people who didn’t file tax returns for years have already paid $172 million in overdue taxes to the Internal Revenue Service, according to the first results of the agency’s revived program targeting...
The Internal Revenue Service today reminded U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is April 15. For additional information about filing deadlines, filers...
If you’re not familiar with U.S. taxes, the idea of an “Exit Tax” might sound confusing. Different rules apply according to the date upon which you expatriated, so be sure that you have checked your exact expatriation date. The article is based on...
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