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What is an ITIN? An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. It is a nine-digit number that always begins with the [...]

On September 12th, the Treasury Inspector General for Tax Administration (TIGTA) released its annual report on IRScompliance trends. Individual income tax return examinations conducted by the US [...]

Aspects of Estate Planning for Persons with U.S. Connections

Many of our clients are entrepreneurial and our team is ready and able to support them. Some clients have online businesses. So taxation in the online space is always a hot topic. For US domestic [...]

Most know June 30th as the deadline for filing FBARs or Foreign Bank Accounts – http://advancedamericantax.com/2014/11/25/fbars-and-form-8938/ But this year there’s a new kid on the block [...]

I previously wrote about the amnesty program in general, and streamlined procedures in particular. Most agree that it is critical to contact the IRS before they contact you.  At the same [...]

Entrepreneurs need to be aware of the 83(b) election.  In simple terms, you are taxed on any equity compensation that you receive in the same way that you are taxed on your other income. [...]

fatca Taxpayers in the 2014 OVDP face a 50% penalty if they had accounts at any of the following: UBS AG Credit Suisse AG, Credit Suisse Fides, and Clariden Leu Ltd. Wegelin & Co. [...]

This week, HM Revenue and Customs (HMRC) confirmed that UK financial institutions (FIs) that have no US-reportable accounts will not be required to submit annual ‘nil returns’ in [...]