Reid Kopald
Articles
FATCA Implications for Australian Superannuation Plans
As we have discussed elsewhere, the Foreign Account Tax Compliance Act (FATCA) takes effect July 1. Part of the IRS effort to enforce the taxation of offshore assets held by U.S. taxpayers, the law imposes new and more stringent reporting requirements on foreign financial institutions. All taxpayers—including resident aliens (those holding ...
Know the Tax Implications of Foreign Investing
When it comes to investing, there is diversification, and then there is diversification. The U.S. financial markets are rich enough that it is certainly possible to extensively diversify a portfolio and never leave American shores. However, as the recent financial crisis and recession (among other events) have proved that nearl...
US Expat Taxes: IRS Tax and Reporting Obligations of Foreign Trusts
As with all of your worldwide income and assets, any involvement of a US Citizen or Green Card Holder with one or more foreign trust accounts must be reported to the IRS with your annual US income tax return. Whether you are a stateside American Citizen or a US Expat living and working overseas, the rules of reporting and paying taxes on income f...
New Solution for Reporting Previously Unreported Canadian RRSP’s
Are you still concerned about one or more Canadian RRSPs that you failed to report to the IRS in previous years? For the first time, the IRS is allowing taxpayers to report previously unreported RRSPs by filling out Form 1040X and attaching a Form 8891 for each RRSP that wasn’t reported in recent years. ...
Tax Documents Required to File US Tax Return From Countries With No Personal Tax
As an American Expat living and working overseas, you may live in one of the 15 tax free countries in which you are not liable for municipal or federal taxes. These countries are : ...
Tax Implications of American Citizen Receiving an Inheritance From Abroad
When an American Citizen is the beneficiary of an inheritance in a will from a foreign relative who does not have US Citizenship, a great number of questions can arise about the tax implications of a foreign inheritance and the logistics...