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On August 21, 2024, the IRS announced that the Fourth Quarter 2024 IRS interest rates on overpayment and underpayment of tax will remain the same as in the Third Quarter of 2024. This means that, the Fourth Quarter 2024 IRS interest rates will be as follows: eight (8) percent for overpayments (seven (7) percent in the case of a corporation); eight (8) percent for underpayments; […]
If you live in Atlanta, Georgia, and you are an owner or a beneficiary of a foreign trust, you need to secure the help of a Atlanta Foreign Trust Attorney to properly comply with US international tax laws. You should consider retaining Sherayzen Law Office as your Atlanta Foreign Trust Attorney. Sherayzen Law Office is […]
If you reside in San Antonio, Texas, and have unreported foreign bank and financial accounts, you may be looking for a San Antonio FBAR Tax Attorney. Sherayzen Law Office, Ltd. is a leader in FBAR compliance, including offshore voluntary disclosures concerning delinquent FBARs, and you should consider us in your search. Let’s understand why this is the case. […]
Passive Foreign Investment Company (PFIC) classification of a foreign corporation may have highly undesirable consequences for its US shareholders. In addition to high PFIC tax, these taxpayers face expensive and burdensome tax reporting requirements. This is why US taxpayers and their tax advisers generally try to avoid PFIC designation. This article explores a possible way […]
In the realm of US international tax compliance, few topics are as crucial as the reporting of foreign financial accounts, particularly The Foreign Bank and Financial Accounts Report (FBAR). This article focuses on one specific aspect of FBAR compliance: what accounts need to be disclosed on FBAR. In particular, we will delve into the intricacies of […]