Common IRS tax issues of US-Japanese filers and Expats

Common IRS tax issues of US-Japanese filers and Expats

http://ift.tt/2vt4mmT Along with FATCA and FBAR reporting, these are the specific Japanese IRS tax issues our team of tax attorneys, CPAs, and tax preparers assist our clients with. Typical tax issues we see with Japanese-American tax filers and Expats Foreign reporting --- the Bank Secrecy Act requires US person to retain bank recods fo 5 years. Yet in Japan, banks don't necessarily give or create bank statements. A spouse who is not a US person --- There are gifting limitations. Also, it is possible to file a joint return with a spouse who is a non-US person to lower taxes. Inheritence issues --- oftentimes US taxpayers did not know that their parents or in-laws put a bank account or asset in their name. The correct forms may be missing with great risk of penalty. US Children -- there are instances where children's investment income may spring a "kiddie tax" on their US parents. Offshore Voluntary Disclosure Programs If you have made a mistake in previous IRS tax filings, or haven't filed at all, we can help. We are the nation's premier offshore disclosure firm. We have helped thousands of Chinese and others from around the globe properly disclose to the IRS. We can help you too. Parent & Parent LLP 144 S Main Street Wallingford, CT 06492 (203) 269-6699 http://ift.tt/1RfwK1f info@irsmedic.com https://youtu.be/OOlbiLMYVUs IRS Medic