Charitable giving with intention - QCD's originated out of a more innocent time when I was relatively involved with St. Peter’s Stewardship Committee out here in Greenwood Village, Colorado. Back then my wife and I developed a plan to drill down into several aspects of charitable...
If you will be 50 or older by the end of 2016, you may be able to contribute more money every year to your employer-sponsored retirement plans and your individual retirement arrangements. Contributing more money will help you save more for your retirement and reduce...
According to Brenda L. Hales, Senior Tax Analyst, Internal Revenue Service, ITIN Policy Section-M/S 97-WI of 401 W Peachtree Street NW, Atlanta, GA 30308 the ITIN Acceptance Agent Program includes the following changes made in 2016 and are immediately effective: Certification Process Changes For dependents, Certifying Acceptance Agents (CAA's) will now...
When you disagree with the IRS the Office of Appeals has the authority to weigh the hazards of litigation of a disputed matter making it a great resource for taxpayers who are challenged by 'Campus Center' problems or Revenue Agent disputes. The IRS Office of Appeals...
New requirements implemented for dependents whose passports lack a date of entry stamp into the U.S. Beginning Oct. 1, 2016, the IRS will no longer accept passports that do not have a date of entry into the U.S. as a stand-alone identification document for dependents from...
Regardless of whether or not you are able to pay your tax liability in full, you should file all tax returns that are due. To do so, file your past due return the same way that you would file a timely return. Contact me directly...
Foreign Bank Account Reporting (FBAR) - FinCEN Form 114 FinCEN Financial Crimes Enforcement Network (FinCEN) is a bureau of the Treasury Department. Authorized under the Bank Secrecy Act, foreign bank account reporting commonly referred to as “FBAR” is electronically reported to the IRS via FinCen Form 114 separate and...
Foreign Financial Asset Reporting (FATCA) - Form 8938 was enacted March 18, 2010 and requires filing of Form 8938. The FATCA requirement does not replace or otherwise affect a taxpayer’s obligation to file an FinCEN Form 114. Basically if you are a US taxpayer holding foreign financial assets you...
Foreign Tax Credit (FTC) A Drill Down into IRS Form 1116. With all the political rhetoric about borders and boundaries circulating these days by 'news media' outlets the fact of the matter is US Taxpayers are increasingly working and living abroad everyday. With that taxpayers and tax...
Living and working outside of the USA - anyone can do it - everyone should....