Taxpayers who have financial assets outside the United States often ask the question "How will they (IRS) know about my Foreign Account?;" when they are considering how (or whether) to come clean and inform the IRS about their previously undisclosed foreign financial accounts. For years, there was little public knowledge of the U.S. government’s foreign financial…
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IRS Audits – How Are Tax Returns Selected for Audit?
In order to determine how to respond to an IRS Tax Audit, it is helpful to understand how tax returns are selected for examination. The IRS selects returns for examinations in several ways, some based upon objective criteria coded into a carefully protected computer program and others based upon old fashioned investigation work. Selection for an IRS Audit…
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How Will the IRS Know About My Foreign Account?
Taxpayers who have financial assets outside the United States often ask the question "How will they (IRS) know about my Foreign Account?;" when they are considering how (or whether) to come clean and inform the IRS about their previously undisclosed foreign financial accounts. For years, there was little public knowledge of the U.S. government’s foreign financial…
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New US E Business Visa Route for Frustrated Central American, Chineese & Indian Investors
Citizenship applications for the Caribbean island of Grenada have boomed in the last three years. Reports have emerged that Grenada’s citizenship by investment program, introduced in 2014, is being used to fast-track US E2 visa applications. Grenada is the only Caribbean country with a fast-track citizenship program, which signed a Commerce and Navigation Treaty with…
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