U.S. citizens and U.S. permanent residents are subject to income taxes on their worldwide income. The U.S. taxes are based more..
This is a new law that requires foreign banks to share financial information to the US. FATCA rules requires reporting of foreign bank more..
FBAR is the IRS reporting requirement of U.S Citizens and residents who own or have signature authority over financial accountsmore..
If you are a US shareholder of a controlled foreign corporation (own 10% shares and control 10% of the voting rights), together owningmore..
A foreign corporation is classified as a PFIC if it satisfies either the income or the asset test. 75% or more of the foreign corporation’smore..
Many countries have signed the FATCA pact with the IRS and mandatory reporting would start on these accounts from 2015/2016. One key changemore..