IRS Issues Fall 2016 Report Card On OVDP Milestones And FACTA Implementation Offshore Compliance Programs For Taxpayers With Undisclosed Foreign Bank Accounts Generate $10 Billion andMore Than 100,000 U.S. Taxpayers Come Back into Compliance In Reporting Foreign Accounts;IRS Urges People to Take Advantage of Voluntary Disclosure Programs The IRS announced on October 21, 2016 that […]
Go For The Gold And Pay Your Victory Tax – Olympic Medals Taxable While millions of Americans were glued to their televisions to watch American athletes compete in this year’s Summer Olympics, the Internal Revenue Service was getting ready to make sure that all our Olympic winners pay taxes on their victories. The Internal Revenue […]
Beware the Potential Tax Pitfalls of Investing in Offshore Mutual Funds or Owning Foreign Insurance Policies If you have never reported your foreign investments on your U.S. Tax Returns, the IRS has established the Offshore Voluntary Disclosure Program (OVDP) which allows taxpayers to come forward to avoid criminal prosecution and not have to bear the […]
IRS SEEKS TO ELIMINATE GIFT AND ESTATE TAX DISCOUNTS ON FAMILY-OWNED BUSINESSES AND ENTITIES On August 2, 2016, the Treasury Department issued proposed regulations under the authorization contained in Section 2704(b) of the Code, with a hearing scheduled on December 1, 2016. The proposed regulations will essentially take away all valuation discounts for interfamily transfers […]
Jeffrey B. Kahn, Esq. and Gary Sussman Discusses the Lifetime Estate Gift Annuity, the Building Blocks to Financial Security and the “Victory Tax” On ESPN Radio Topics Covered: 1. Special Guest: Jim Sagona with Pacific Sotheby’s talking about the Sharp Health Care Lifetime Estate Gift Annuity 2. The Building Blocks to Financial Security 3. Victory […]
Jeffrey B. Kahn, Esq. and Windus A. Fernandez Brinkkord Discusses Business Consulting, 401(k) Plans and IRS Audits -What Need To Know, On ESPN Radio – August 12, 2016 Show Jeffrey B. Kahn, Esq. and Windus A. Fernandez Brinkkord Discusses Business Consulting, 401(k) Plans and IRS Audits -What Need To Know, On ESPN Radio – August […]
Jeffrey B. Kahn, Esq. and Gary Sussman Discusses Financial Planning, Undisclosed Foreign Accounts and the IRS On ESPN Radio – July 29, 2016 Show https://soundcloud.com/kahntaxlaw/undisclosed-foreign-accounts-and-the-irs Topics Covered: 1. Special Guest Mark Schwartz, Owner at Mark Schwartz Realty 2. Financial Planning missteps that could ruin everything 3. FATCA Momentum Grows; If You Have Undisclosed Foreign Accounts […]
Tips If You Owe Taxes Mailed Tax Bills.If you owe taxes, you will first receive a bill in the U.S. mail from the IRS which tells you your balance owed through a certain date indicated on the bill. Don’t fall for those calls from people claiming to be the IRS threatening criminal action against you […]
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