On February 22, 2017 we posted Your FBAR Is Due in April This Year! where we discussed that the new law, for returns for tax years beginning after Dec. 31, 2015, the due date of FinCEN Report 114 will be Apr. 15, with a maximum extension of 6 months ending on Oct. 15. Now FinCEN has issued…
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Disregarded Entities Are Not Always Disregarded
Under the check the box rules, entities owned by one person can often be disregarded for federal tax purposes. Such entities are referred to as "disregarded entities." As time has progressed since the passage of the check the box rules, the IRS has created more and more exceptions to the disregarded treatment. The following is…
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The Estate Tax Challenge
We previously posted on November 14, 2016 Trump Presidency Could Be Death Knell For Estate Taxes! where we discussed President-Elect Trump's tax plans, which includes the repeal of the US Estate & Gift taxes. This may be a realistic possibility considering that this is in line with some of the proposals in the Republican House Ways &…
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Going To Europe This Summer? You Need To Get a Visa!
The European Parliament voted, on 2 March 2017, to suspend the EU's visa waiver program with the US for one year, following the US administration's failure to lift visa restrictions on Bulgaria, Croatia, Cyprus, Poland, and Romania. The European Commission now has two months to reintroduce visas for Americans wishing to travel to Europe. Citizenship…
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