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There is a vibrant community of New Zealanders in Wisconsin (though New Zealanders can be found in many other places in the United States). Many members of this community continue to maintain their pre-immigration New Zealand bank accounts. Some of these owners of New Zealand bank accounts are aware of at least some US tax […]
The 2018 FinCEN Form 114 deadline is approaching fast. It is definitely one of the most important deadlines that US taxpayers face in 2019. It is also one of the most confusing ones, because this form is not filed with a federal income tax return. Moreover, some taxpayers mistakenly treat 2018 FinCEN Form 114 as […]
The 2018 FBAR deadline is one of the most important deadlines for US taxpayers in the calendar year 2019. Since FBAR is not filed with the federal income tax return, many taxpayers may miss this deadline. This is why Sherayzen Law Office is publishing this notice to US taxpayers. 2018 FBAR Deadline: Background Information FBAR […]
US tax requirements concerning Italian bank accounts can be quite burdensome and complex. The chief three US reporting requirements applicable to Italian bank accounts are: worldwide income reporting, FBAR and FATCA Form 8938. Let’s discuss each of these requirements in more depth. Italian Bank Accounts: US Tax Residents and US Persons Before we delve into […]
On December 14, 2018, the IRS issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Let’s discuss in a bit more depth these new 2019 IRS Standard Mileage Rates. Beginning on Jan. 1, 2019, the standard mileage rates for the […]