FBAR (Report on Foreign Bank and Financial Accounts) is due on June 30, 2010
The FBAR must be filed by June 30 of each relevant year, including this year (2010).
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Trademark Lawyers Minneapolis: Advantages of Federal Trademark Registration
Obtaining federal registration of a trademark can bestow on the trademark owner (“registrant”) a number of evidentiary and substantive advantages: 1. Federal trademark registration is a prima facie evidence of the validity of a registered mark, the registrant’s ownership of the mark, the continued use since the filing date of the application and the exclusive […]
Understanding Your Contract: Top Seven Questions to Ask Yourself Before Signing a Contract
The standard definition of a contract states that: a contract is a promise or set of promises, for breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty. Therefore, an enforceable contract, whatever its type or form, inevitably creates rights and obligations. This […]
Reporting Canadian Registered Retirement Savings Plan (RRSP) and Registered Retirement Income Fund (RRIF) Income to the IRS
U.S. citizens and resident aliens (for U.S. tax purposes) who have financial interest in Canadian Registered Retirements Savings Plans RRSPs)and/or Registered Retirement Income Funds (RRIFs) must report their RRSP and RRIF income to the IRS by using Form 8891. The taxpayers (even if resident aliens from Canada) must comply with this reporting requirement even if […]
Definition of “U.S. person” for FBAR (Report on Foreign Bank and Financial Accounts) Purposes
Since October of 2008, the definition of a “U.S. person” has been going through a turbulent phase of uncertainty with periodic expansions and retractions. The pre-2008 FBAR instructions (dating back to July of 2000 version) defined the “U.S. person” broadly as: “(1) a citizen or resident of the United States, (2) a domestic partnership, (3) […]