Mel Whitney
Articles
Domestic Streamlined Offshore & Certification Form 14654
Streamlined Program Overview The IRS streamlined program breaks down into two camps. 1. Streamlined Foreign Offshore Program (SFOP) ...
Effectively Manage the Timing of Restricted Stock Units (RSU) to Receive Optimal Tax Treatment
Startup culture is booming. You’re on your way to disrupting every industry known to man - but first, make sure you’ve got a handle on your finances. As a founder or early stage employee of a startup, not only do you have to worry about your burgeoning service or product, but you must learn to wade through the world o...
Like-Kind Exchanges of Rental Property Under IRC Code Section 1031
Whenever you sell rental property and you have a gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain from sale of business or investment property if you buy a similar property as part of a qualifying like-kind exchange. Gain deferred in a lik...
How to Determine Maximum Annual Account Balance for FBAR
Due to recent changes, the FinCEN Form 114 (FBAR) due date was moved from June 30th to April 15th. As anyone who has filled o...
Non-US Citizen With US Income Subject to Withholding Do Not Ignore Form 1042-S
1042-S - What Is It and Who Needs to Complete It? This form has to be completed by a Withholding Agent - this obscure term generally refers to bank or broker that pays passive income and must w...
IRSN (Internal Revenue Service Number) - What It Is, Who Needs It and Who Should Avoid It.
Hundreds of thousands of American citizens by birth live abroad without a Social Security number. Many of them have recently discovered that they have U.S. tax compliance obligations. Most often this news is delivered by a foreign bank that has custody of their money, through a sca...