U.S. citizens and U.S. permanent residents are subject to income taxes on their worldwide income. The U.S. taxes are based
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This is a new law that requires foreign banks to share financial information to the US. FATCA rules requires reporting of foreign bank
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FBAR is the IRS reporting requirement of U.S Citizens and residents who own or have signature authority over financial accounts
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If you are a US shareholder of a controlled foreign corporation (own 10% shares and control 10% of the voting rights), together owning
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A foreign corporation is classified as a PFIC if it satisfies either the income or the asset test. 75% or more of the foreign corporation’s
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Many countries have signed the FATCA pact with the IRS and mandatory reporting would start on these accounts from 2015/2016. One key change
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