2020 US Expat tax news, updates & compliance tips

2020 US Expat tax news, updates & compliance tips

https://ift.tt/2vcoijt A video every American living overseas really should watch. Between FATCA, FBAR, and tax reform there is a lot of changes that can really have dire consequences if that handled correct. And so too the IRS's new awareness of foreign information return reporting like Form 8938 and Form 5471 Tax attorney Anthony Parent interviews fellow tax attorney John Richardson, Laura Snyder, a lawyer from the IRS Taxpayer Advocate's office, and Keith Redmond, global advocate for the American abroad. The four give candid advice to taxpayers based on their decades of experience. Who needs to be in compliance. What the IRS can do if you are not in compliance. Who is at risk for audit or criminal proceedings? And the four discuss an issue look of how Congress and the IRS look at the problem - and possible ways to get relief for Americans aboard who often have to pay large tax preparation fee just to prove they ow no money to the IRS (or could be due a refund) The video concludes with Attorney Richardson suggesting a Treasury Regulation that could on its own - defeat citizenship based taxation and give the IRS a tax code it can enforce. Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269 6699 info@irsmedic.com https://youtu.be/osSq74gEPBQ IRS Medic