Austin TX: The Hotbed of US International Tax Compliance | FBAR & FATCA Austin Texas

Hello and welcome to Sherayzen Law Office video blog. My name is Eugene Sherayzen and I’m an international tax attorney and owner of Sherayzen Law Office, Ltd.

Today, I’m in Austin, Texas. In fact, I’m on the famous 6th Street and you can see behind me that there’s the old Driskill Hotel built in 1886.

Since I’m starting out this series of blogs from Austin, I want to say why I came to this city besides meeting with a client here and conducting a consultation here; I came here because I wanted to get to know this great city and as a huge source of clients for my firm. Now, Austin is truly prolific when it comes to clients for my firm. In fact, I would say that it is in the top five cities in the United States. Sometimes, I get more clients from Austin that I get from New York and Boston combined. Why is that? Well, the answer is very simple: there are a lot of immigrants here in Austin that come here from all over the world. They come here from Germany, from Switzerland, from Australia and New Zealand, England, Brazil, Mexico, etc. When these immigrants come to Austin, they usually do not come empty-handed. They still maintain ties to their home countries; they still have assets there, they may be the beneficiary of a foreign trust in New Zealand and they may have received an inheritance in the United Kingdom, they may be running businesses in Mexico. Wherever it is that they have, has US tax reporting consequences here in the United States. Unfortunately, many of them are not aware of these consequences and do not understand them. This is why many of them tend to be non-compliant with US tax reporting requirements and later they will come to me to help them fix it.

In future blogs, I will continue talking about US tax reporting requirements that apply to these immigrants that come to Austin, Texas.

Thank you for watching, until the next time.