Expat Americans Continue to Renounce Citizenship

Expat Americans Continue to Renounce Citizenship

Expat Americans Continue to Renounce Citizenship A steady stream of American citizens reportedly have renounced their citizenship since the implementation of stricter tax rules. Many Americans who live in other countries face higher tax bills, difficulty in obtaining and keeping financial accounts and complex retirement savings rules Some advocates urge the US government to tax […]

Bitcoin: IRS says ‘Less than 100 people have reported holdings so far’

Bitcoin: IRS says ‘Less than 100 people have reported holdings so far’

Bitcoin: IRS says ‘Less than 100 people have reported holdings so far’ $BTCUSD The Big Q: What will be the impact of last years digital currency boom be on US tax payers? Notably, Germany has declared Bitcoin Tax Exempt. In Y 2017, cryptocurrencies became among the very trendiest investment opportunities. And, after much debate and […]

IRS Taps Bitcoin Traders’ Exchange Data Pool

IRS Taps Bitcoin Traders’ Exchange Data Pool

IRS Taps Bitcoin Traders’ Exchange Data Pool $BTCUSD Coinbase Inc., an online exchanges for digital currencies, has warned thousands of its customers that it will be reporting their financial data to the US tax officials. The request was part of a probe by the Internal Revenue Service (IRS) into alleged tax evasion and advoidence. The […]

DOJ: “IRS Abuse of Power will Not be Tolerated”

DOJ: “IRS Abuse of Power will Not be Tolerated”

DOJ: “IRS Abuse of Power will Not be Tolerated” DOJ settles Tea Party groups’ lawsuits over IRS scrutiny Thursday, the US Department of Justice announced it has reached settlements with conservative groups over lawsuits relating to the IRS’s scrutiny over the groups’ applications for tax-exempt status. The settlements pertain to 2 cases, one with 41 […]

President Trump Instructed DOJ to Probe the Weinstein Sex Scandal

President Trump Instructed DOJ to Probe the Weinstein Sex Scandal

President Trump Instructed DOJ to Probe the Weinstein Sex Scandal The FBI have already opened up an investigation into the sexual harassment allegations against Hollywood’s Harvey Weinstein’s. Attorney General Jeff Sessions’ Department of Justice has ordered the FBI to investigate the sexual misconduct allegations surrounding Hollywood producer Harvey Weinstein. Mr. Weinstein, 65 anni, has become embroiled […]

American’s With Foreign Accounts, Listen Up

American’s With Foreign Accounts, Listen Up

American’s With Foreign Accounts, Listen Up If the total balance of your foreign financial accounts exceeds $10,000 at any time during a calendar year, then you must file an “FBAR” (FinCEN Form 114, Annual Report of Foreign Bank and Financial Accounts) with the US government for that year. An FBAR for a given year is […]

Congress to Stop IRS from Enforcing Obamacare Mandate

Congress to Stop IRS from Enforcing Obamacare Mandate

God Bless America!  Congress to Stop IRS from Enforcing Barack Obamacare Mandate The US Congress is making sure 1 Key part of Barack Obamacare gets repealed poste haste,  the Individual Mandate. The House appropriations committee has drafted a provision to stop the IRS from enforcing the individual mandate of the Affordable Care Act aka Barack […]

FATCA Must Be ‘Killed” by This GOP Congress

FATCA Must Be ‘Killed” by This GOP Congress

FATCA Must Be ‘Killed” by This GOP Congress The Foreign Account Tax Compliance Act (FATCA) imposed a worldwide financial disclosure information regime on every financial institution in the world, it is an international nightmare. There are several major problems with FATCA which are widely discussed and debated. FATCA was passed into law in Y 2010 […]

President Trump’s Order Allows Churches to Become Politically Active

President Trump’s Order Allows Churches to Become Politically Active

President Trump’s Order Allows Churches to Become Politically Active Thursday, US President Donald Trump signed an executive order that allows tax-exempt churches to more actively participate in politics and and may well free religious organizations to deny employees insurance coverage for birth-control pills. The order partially fulfills a campaign promise by President Trump, although he […]

The Trump Tapes, the Trump Vote: Maintaining Perspective

The Trump Tapes, the Trump Vote: Maintaining Perspective

The Trump Tapes, the Trump Vote: Maintaining Perspective Two days later, the Trump tapes continue to reverberate. As someone who speaks and writes arguing that electing Donald Trump (with all of his imperfections) is far preferable to electing Hillary Clinton (with all of hers), I’ve been challenged by friends who are Democrats–some no longer so […]

IRS Opens Investigation into Clinton Foundation

IRS Opens Investigation into Clinton Foundation

IRS Opens Investigation into Clinton Foundation Just a year after brushing off Republican lawmakers, the IRS has reversed course and opened up a formal investigation into the activities of the Clinton Foundation. The IRS referred Rep. Marsha Blackburn’s (R-TN) request to its Exempt Organizations Examinations program. Ms. Blackburn has led a cadre of Republicans persistent […]

1st Time Buyers of EV’s and Hybrid Cars Eligible for Tax Credits

1st Time Buyers of EV’s and Hybrid Cars Eligible for Tax Credits

1st Time Buyers of EV’s and Hybrid Cars Eligible for Tax Credits US environmentally-conscious taxpayers can choose from a variety of vehicles powered solely or partially by electricity. Some of the cars on this list are “head scratchers”, as in the Porsche 918 Spyder Hybrid base priced at $845,000 (pictured above), humm! In addition to the perceived ecological […]