Federal Taxation of Old Age, Survivors and Disability Insurance Relief

International Social Security Agreements between the United States and certain foreign countries could waive or relieve certain taxpayer citizens of foreign countries with agreements under Section 233 of the Social Security Administration Act.  These International Social Security Agreements are known as ‘totalization agreements’. Totalization Agreements’ purpose is to limit old age, survivors and disability insurance type taxation to the country where the work was done.

Federal Courts Clarify Standard for Proving Taxpayer’s Willful Violation of Report of Foreign Bank and Financial Accounts (FBAR)

United States citizens, lawful permanent residence and certain other persons that are classified under 31 U.S.C. Sec. 5311 and promulgated Regulations must file with the Financial Crimes Network annually a Report of Foreign Bank Account, Form 114.

Offshore Accounts? The Train Is Leaving the Station! IRS To End Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018

The IRS is closing down the Offshore Voluntary Disclosure Program on September 28, 2018. This program that has been in effect since about 2009  and extended in 2012 and again in 2014 is ending in about 7 days.