.png)
.png)
The USA has launched a tax amnesty aimed at individuals living outside the country. DAVID TREITEL reports
KEY POINTS
- US citizenship.
- Streamlined approach for non-filers.
- Low or high compliance risk.
- Careful analysis needed.
Life liberty the pursuit of happiness … and worldwide taxation forever. American citizens and green-card holders appear to enjoy numerous privileges including the mandatory requirement to file a seemingly ever growing series of annual tax and information returns with the United States Internal Revenue Service (IRS).
Worldwide tax sounds perhaps a fairly simple concept.
However those who overlook filing whether deliberately through lack of knowledge or even because a tax or financial adviser failed to mention the need to do so can be charged penalties calculated on a “pay per form” basis which according to US statutes could quickly run into tens of thousands of dollars.
The penalty for...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
