by Levins Tax | Jul 29, 2022 | Uncategorized
Depositing money in a bank in a foreign country is not illegal. Some people may prefer to use offshore accounts for various reasons. However, the Foreign Accounts Tax Compliance Act requires all foreign entities to report on foreign assets held by U.S. citizens. ...
by Levins Tax | Jul 29, 2022 | Uncategorized
As part of its look to the future, the Internal Revenue Service recently released its strategic plan. The plan aims at making updates to customer service as well as how it handles aspects of administration. The plan covers fiscal years 2022 through 2026. Here are the...
by Levins Tax | Jul 8, 2022 | Uncategorized
A tax lien is a legal claim that the government makes against the property of an individual or a business when they neglect to pay their owed property taxes. When a tax lien is issued on a property, it is impossible to sell or refinance it until the lien is removed...
by Levins Tax | Jul 8, 2022 | Uncategorized
There are a number of reasons you might consider opening a foreign bank account. Common ones include ease of access to foreign currencies, plans to travel or live overseas, international investment opportunities, a need to protect assets or geographic diversification...
by Levins Tax | Jul 8, 2022 | Uncategorized
Filing taxes can be a complex process. Businesses and individuals are required to file their taxes as accurately as possible, but events like purchasing property or commercial equipment can lead to tricky filing requirements that may result in errors. When the IRS...
