International Taxes: How To Satisfy the US Government, And Maximize Protection Of Your Foreign Income and Assets
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International Taxes: How To Satisfy the US Government, And Maximize Protection Of Your Foreign Income and Assets
Are you a US citizen or business with foreign income or assets? Are you a foreign citizen or business with income or assets within the United States? These types of situations fall under the broad umbrella of international tax law.
In today’s global economy income and assets are crossing borders with greater frequency and value than ever before in the history of the world. With growing deficits and an ever-increasing appetite for tax revenues, the US government has significantly expanded its efforts toward identifying and tracking foreign income and assets that may be taxable by the US.
The US Department of Justice has aggressively sought FATCA (Foreign Account Tax Compliance Act) agreements with virtually all other nations. These international tax agreements bring with them unbearable financial penalties for any nations that fail to fully comply.
These recent changes in the international tax arena have effectively brought about the death of offshore tax havens and ushered in a new era of global financial transparency for US citizens. The US government either currently has, or will soon have full access to the account information of any US person in any foreign financial institution, and those accounts are or will soon be subject to international tax regulations by the IRS.
It is critically important that US persons engaging in financial matters that cross international boundaries fully understand FBAR requirements, how and when to use the Offshore Voluntary Disclosure Program, how FATCA agreements will open their foreign financial accounts up to new levels of scrutiny and how to properly file income taxes here in the US while maximizing the benefits of foreign tax credits.
In an interconnected world where digital records cannot escape the light of day, the only protection is a well informed strategy that utilizes the appropriate and legal channels for legitimate tax avoidance.
In this book, Tax Attorney William D. Hartsock, Esq utilizes over 30 years of experience in international tax law to guide you through a wide variety of international tax laws, strategies and insights that can change your life and help you secure your financial future.
The Tax Lawyer - William D. Hartsock, Esq been working on both personal and corporate international tax cases, and with the various IRS Voluntary Disclosure programs since the early 1980’s before they became popular. Because of this experience and specialization, Mr. Hartsock is regularly sought after by attorneys with clients that are in need of this expertise in international tax law.
Currently, Mr. Hartsock is the Chairman of the San Diego County Bar Association, Pro Se Program, owner of http://TheTaxLawyer.com and the founder of a law firm comprised of Tax Attorneys, CPA’s, Enrolled Agents, Tax Preparers and Bookkeepers.
After earning a Masters in Taxation and Juris Doctorate at the University of San Diego School of Law along with an undergraduate Accounting Degree at the University of Nebraska-Lincoln, Mr. Hartsock became a certified tax law specialist and founded his practice in 1982. A Certified Tax Law Specialist is the highest designation available to a tax attorney. Since that time he has successfully represented countless clients as a tax attorney specializing in all types of IRS, EDD and FTB tax problems whether state, federal or international.
If you have foreign income, foreign financial accounts or significant foreign assets this book is a must read. The international tax arena is quickly changing and it is critically important that you learn how to properly file your FBARs, that you understand what FATCA means to you, and if necessary that you enroll in the Offshore Voluntary Disclosure Program before it is too late. This international tax book will get up to speed quickly. Turn the page.