FinCEN expands Real Estate 'Geographic Targeting Orders' for large transactions

FinCEN expands Real Estate 'Geographic Targeting Orders' for large transactions

http://ift.tt/1RfwK1f If you have a tax issue or question (domestic or international), don't hesitate to contact us at 888-727-8796 or info@irsmedic.com. Back in April we talked about FinCEN's (Financial Crimes Enforcement Network) latest press release/project: “FinCEN takes aim at real estate secrecy in Manhattan and Miami. ‘Geographic Targeting Orders’ requires identification for high end cash buyers”. This was effective March 1, 2016 and was set to expire on August 27, 2016. Alas - it did not expire...instead the program was expanded. The originally targeted areas were Manhattan, and Miami-Dade County, FL. In this video, we talk about the expanded areas, the new reporting dollar amount thresholds, and the scope of "covered transactions". ***Jurisdiction Price Thresholds*** The Borough of Manhattan $3,000,000 The Borough of Brooklyn $1,500,000 The Borough of Queens $1,500,000 The Borough of Bronx $1,500,000 The Borough of Staten Island $1,500,000 Miami-Dade County $1,000,000 Broward County $1,000,000 Palm Beach County $1,000,000 San Diego County $2,000,000 Los Angeles County $2,000,000 San Francisco County $2,000,000 San Mateo County $2,000,000 Santa Clara County $2,000,000 Bexar County $500,000 IRSMedic.com is the website for Parent & Parent LLP, a tax law firm of IRS resolution attorneys, Certified Public Accountants, and Enrolled Agents who want to be the team that permanently resolves your tax problem where others have failed. We have developed a proven system of solving any tax problem in the least amount of time, for the smallest amount of headache. We serve US taxpayers worldwide for IRS, US Tax Court and state revenue agency issues. 888-727-8796 info@irsmedic.com http://youtu.be/s-r5RWwJ2bQ IRS Medic

Anthony Parent & Erika Arias on Connecticut's Sales Tax Holiday

Anthony Parent & Erika Arias on Connecticut's Sales Tax Holiday

In the segment for from August 23nd of Fox61's morning news show, Anthony and Erika discuss the yearly Connecticut Sales Tax Holiday and what kind of items are exempt. http://youtu.be/poCEWZnAzlo IRS Medic

Avoiding IRS Form 926 Penalties

Avoiding IRS Form 926 Penalties

http://ift.tt/1RfwK1f - Concerned about unfiled, or misfiled IRS Forms? Contact us for help at 888-727-8796 or info@irsmedic.com (your information is subject to the attorney client privilege). We can review your returns and let you know if you have issues, and how to fix them. With over 10 years of international tax experience, we are here to help. The IRS is currently using a fairly new program call the "International Practice Units" to target easy audits that will generate the most revenue for them. One of these IPU's focuses on IRS Form 926. It's fairly easy for them to track down people and businesses that should have filed it and quickly search to see if it was filed. For example, if you filled out Form 5471, you may need to also fill out Form 926. The penalties for not filing, or mis-filing this form are 10% of the fair market value of the transferred property (up to $10,000), and an open assessment on your returns. In this video, Attorney Parent and Claudine discuss what to do if you're concerned about this issue). IRSMedic.com is the website for Parent & Parent LLP, a tax law firm of IRS resolution attorneys, Certified Public Accountants, and Enrolled Agents who want to be the team that permanently resolves your tax problem where others have failed. We have developed a proven system of solving any tax problem in the least amount of time, for the smallest amount of headache. We serve US taxpayers worldwide for IRS, US Tax Court and state revenue agency issues. 888-727-8796 info@irsmedic.com Serving U.S. taxpayers worldwide http://youtu.be/DvW_A3lMxQ4 IRS Medic

Is tax reform possible? Then we wouldn't need things like "Tax Free Weeks"...

Is tax reform possible? Then we wouldn't need things like "Tax Free Weeks"...

http://ift.tt/1RfwK1f In this video, Anthony and Claudine talk about the possibility of tax reform, and how it would affect our outlook on taxation. Would it cut down on lobbying, and pandering to taxpayers with things like "Tax free weeks?" And do tax free weeks actually stimulate the economy? Parent & Parent, LLP - The IRSMedic 888-727-8796 info@irsmedic.com IRSMedic.com is the website for Parent & Parent LLP, a tax law firm of IRS resolution attorneys, Certified Public Accountants, and Enrolled Agents who want to be the team that permanently resolves your tax problem where others have failed. We have developed a proven system of solving any tax problem in the least amount of time, for the smallest amount of headache. We serve US taxpayers worldwide for IRS, US Tax Court and state revenue agency issues. http://youtu.be/16JQQ4hP6u8 IRS Medic

IRS International Practice Units - What they are, and why they're important

IRS International Practice Units - What they are, and why they're important

http://ift.tt/1RfwK1f If you are concerned that you may be audited, or need any tax help - contact us. 888-727-8796 or info@irsmedic.com. We are an actual law firm with attorney's, CPA's, and Enrolled Agents. The IRS seems to have a new target for audits. The agency is understaffed, yet they still need to bring in revenue! They have created something called International Practice Units (or IPUs) to help them target people and businesses that will bring easy revenue for them. In this video, we talk about who will be targeted (anyone from expats to LB&I's and MNC's), why, and what they can do about it. A list of all the current IPU's: http://ift.tt/2bbtFTb Parent & Parent, LLP IRSMedic 888-727-8796 info@irsmedic.com All communication is subject to the attorney client privilege. http://youtu.be/b1l5hriEvJM IRS Medic

Can you be liable for someone else's unpaid tax bill?

Can you be liable for someone else's unpaid tax bill?

http://ift.tt/1RfwK1f If you have a payroll tax issue, contact us to schedule your confidential consultation at 888-727-8796 or info@irsmedic.com. Can you be liable for unpaid taxes even if you aren't the employer? The answer is yes. Here are two examples: 1) If the IRS deems you to be a "responsible person" at the business. 2) If you are married to the employer and you file jointly with the employer. This is true even if you had no knowledge of the the unpaid tax, even if you had no control, even if you didn't receive any profits from the business. There are solutions to getting rid your spouses -- or that of someone else-- unpaid payroll taxes. In this video, Attorney Anthony E. Parent talks about your options including innocent spouse and an Offer in Compromise. Learn more about our services and fees here: http://ift.tt/1TUcrWR IRSMedic.com is the website for Parent & Parent LLP, a tax law firm of IRS resolution attorneys, Certified Public Accountants, and Enrolled Agents who want to be the team that permanently resolves your tax problem where others have failed. We have developed a proven system of solving any tax problem in the least amount of time, for the smallest amount of headache. We serve US taxpayers worldwide for IRS, US Tax Court and state revenue agency issues. Parent & Parent, LLP "Real tax attorneys for tough tax problems" 888-727-8796 info@irsmedic.com http://youtu.be/QfbDxgm93aw IRS Medic

Are payroll taxes excluded from the Foreign Tax Credit? Maybe.

Are payroll taxes excluded from the Foreign Tax Credit? Maybe.

For more commentary and insight on this decision see Part II: https://youtu.be/8pjykNCAYk8 The answer to this question is "it depends." If the country you are paying payroll taxes includes payroll taxes into the Totalization Agreement, you likely will not get a credit for those payroll taxes. If on the other hand, if payroll taxes are not included in the Totalization Agreement, they will likely be allowed as a credit. A Totalization Agreement is like a tax treaty but it involves social security so it is the Social Security Administration makes a quasi-treaty with other countries involving social security like payroll taxes. The US-France Totalization Agreement can be found here: http://ift.tt/2aPIhIH So how does it work in real life? In this video, we discuss a recent DC Circuit Court case, Eshel V Commissioner and lay out the facts why the Tax Court held that the French Payroll taxes were not allowed as a credit. @IRSMedic http://youtu.be/1LZfcj3Ffrw IRS Medic

Are you smarter than a circuit court judge? Understanding the foreign tax credit

Are you smarter than a circuit court judge? Understanding the foreign tax credit

Watch this video and you'll be amazed at how much you'll understand about one of the most complicated international tax issues. You'll see how "smarter minds" get confused themselves and punt the problem to someone else to solve. The case of Eshel v. Commissioner, decided August 5, 2016, by the DC Circuit Court of Appeals admittedly is not for the faint of heart. However, by the end of this video, you will understand the court's concluding statements below or your money back*: "The Totalization Agreement is an international executive agreement that must be interpreted in light of its text and the shared expectations of the contracting governments. Because the tax court committed legal error in its analysis of those question, we reverse the judgment of the tax court and remand for further proceedings consistent with this opinion." We could just claim this is a Reason #5497 why international taxation is so blisteringly mind-boggling complicated and leave it at that. But no. We go head first, risking our own lives** and confronting the demons that lurk behind convoluted international tax court decisions***. However, that would be the easy way out. A foreign tax credit is a credit you are able to apply to your tax bull to taxes actually paid in a foreign jurisdiction. However, not all taxes qualify. In order to qualify, the tax must be related to income. But not all income-related taxes qualify. Oh wait. Now it just got more confusing. Just watch the video. This will all totally make sense. Trust us.**** * No money back. ** Our lives not actually risked. *** No demons actually confronted. **** This one comes back clean. It is OK to trust us. http://ift.tt/1RfwK1f http://youtu.be/8pjykNCAYk8 IRS Medic

Tax Preparations Services at IRSMedic/Parent & Parent LLP

Tax Preparations Services at IRSMedic/Parent & Parent LLP

Need help with tax prep, tax planning, or a tax problem? Contact us at 888-727-8796 or info@irsmedic.com. Our team of Enrolled Agents, CPA's and Tax Attorneys specialize in complicated tax returns. Here at the law firm of Parent & Parent LLP/IRSMedic, we started out fixing the things that can go wrong with tax returns and offshore reporting requirements. But what if you didn't have to wait for something to go wrong before you hired us? What if you could hire us to avoid something going wrong? With over 10 years of experience of fixing the toughest tax problems, we know how to do it once, and do it right. You can rest easy knowing your finances are in our hands. - We prepare both complicated personal, and business tax returns - We specialize in helping US citizens investing worldwide, and expats – those living and working overseas - We are familiar with the intricate details needed to complete IRS forms such as Forms 1120, 1120-C, 1065, 5471, 5472, 8858, and 8621 - Our team understands FATCA, FBAR, and other foreign reporting requirements such as BE-10 - We stay up to date with tax treaty, tax law, and reporting requirement changes - If we see that you do have any reporting requirement issues, or have an area where you can save money on taxes, we can help! To discuss tax preparation or tax planning, call us at 1-888-727-8796, send an email to info@irsmedic.com, or fill out our online contact form. We can meet with you in person or conduct a teleconference; our clients are from all over the world and over 90% don’t ever step foot in our office. www.irsmedic.com Parent & Parent LLP http://youtu.be/NYUHvzQLhww IRS Medic