IRS Redefines Tax Regulations Opening Door to Married Filing Jointly Status for Same-Sex Couple Taxpayers
For same-sex couples in the United States, the treatment received has not always lived up to the ideals set forth in our Constitution. While many gains have been made and public acceptance for same-sex marriages is at all-time highs in the United States, the country...Update: ITIN Compliance May Require Renewal Starting January 1, 2017
We have previously blogged about the upcoming changes to Individual Taxpayer Identification Numbers (ITNS) announced in IRS Notice 2016-48. These changes were implemented through the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The changes implemented...AICPA Recommends the IRS Simplify Offshore Tax Disclosure Requirements for American Expatriates
The AICPA (American Institute of CPAs) is the world’s largest member association representing the accounting profession. AICPA has more than 412,000 members in 144 countries across the globe. In a letter to the IRS dated August 15, 2016, AICPA expressed its...IRS Plans to Increase Pressure on Unreported Foreign Account Holders through FATCA IGAs
Since the passage of Foreign Account Tax Compliance Act (FATCA) in 2010, the IRS, Department of Justice, and other government agencies have worked to address the perceived causes of the “tax gap.” One of the factors that Congress believes is contributing...Taxpayers Affected by ITIN Change May Need to File for a Renewal Starting October 2016
Recently, Congress passed a law that will impact a number of individuals who have an Individual Taxpayer Identification Number (ITIN). The reason for these changes is the Protecting Americans from Tax Hikes (PATH) Act enacted by Congress in December 2015. The...