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Failure to file FBARs for secret Russian bank accounts and income tax evasion led to the imposition of a five-year prison sentence on a New Jersey chiropractor. This is the essence of the new IRS victory in the Amato case. Let’s explore this case in more detail, because the case demonstrates the long reach of […]
The Czech Republic just joined an ever increasing list of countries who are introducing their own versions of the digital tax. Let’s explore this development in more detail. Czech Digital Tax Proposal: Overview The Czech Republic’s ministry of finance just announced that it will introduce by the end of May of this year a 7% […]
A large number of Polish immigrants in the United States continue to maintain close ties to Poland, including the ownership of Polish bank accounts. The same is true for Polish citizens with “green cards” who reside outside of the United States during most of the year. Many of these new American tax residents do not […]
Business service income sourcing is a highly important issue in US international tax law. In this article, I will explain the concept of business service income sourcing and discuss the general rules that apply to it. Please, note that this is a discussion of general rules only; there are important complications with respect to the […]
Since July 1, 2014, the Foreign Account Tax Compliance Act (“FATCA”) has imposed heavy compliance burden on Foreign Financial Institutions (“FFIs”). In this brief essay, I want to provide a general overview of these FFI FATCA requirements so that the readers can begin to develop an understanding of FATCA.