Topic: Dual Citizens

IRS to Dual Citizens: It’s Time to Come Clean (re FATCA, FBAR and Other Foreign Tax Reporting)

Just in time for the 2011 tax season, here’s a roundup of recent legal updates that address tax reporting requirements – and penalties for non-compliance – for US dual citizens with foreign income and financial assets: IRS Issues Fact Sheet Providing Information on Federal Income Tax Return and Foreign Bank Filing Requirements – Potential Penalties… Read more »