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Failure to timely and correctly submit Form 5471 with a US tax return may lead to an imposition of Form 5471 penalties. In this article, I will discus the most important 2024 Form 5471 penalties that US taxpayers may face if they fail to comply with the Form 5471 requirements. 2024 Form 5471 Penalties: Purpose of Form 5471 We first need to understand […]
As was the case in the year 2023, I expect that Streamlined Domestic Offshore Procedures will continue to be the flagship offshore voluntary disclosure option in 2024 for US taxpayers who reside in the United States. This is why noncompliant US taxpayers should understand well the main advantages and disadvantages of participating in the 2024 Streamlined Domestic […]
Dear clients, followers, readers and colleagues: Mr. Eugene Sherayzen, an international tax attorney, and the entire international tax team of Sherayzen Law Office, Ltd. wishes you a very Happy New Year 2024!!! Dear clients and prospective clients, in the New Year 2024, you can continue to rely on Sherayzen Law Office for: In resolving all of your current […]
If you are looking for a Minnesota FBAR tax attorney, consider retaining the services of Mr. Eugene Sherayzen of Sherayzen Law Office, Ltd. (“Sherayzen Law Office”). Mr. Sherayzen is an international tax attorney and founder of Sherayzen Law Office. Minnesota FBAR tax attorney: FBAR Specialization of an International Tax Attorney The definition of a Minnesota FBAR tax attorney includes […]
Form 3520-A is a very important US international information return. It can be very complex and has somewhat tricky filing requirements as well as significant noncompliance penalties. In order to avoid these penalties, you need to file a correct Form 3520-A timely. In this essay, I will discuss the 2023 Form 3520-A deadline in the calendar year 2024. 2023 Form 3520-A Deadline: […]