Author Archives: Yana Weaver

Unreported Foreign Bank Accounts Post-FACTA Lead To IRS Revelations And Criminal Convictions

Unreported foreign bank accounts are trouble in the 21st Century. After the adoption of FACTA...

IRS Update To 2014 Form 1042 Instructions Underscore The Need For Accounting Help For Foreign Taxpayers

The IRS updated the Form 1042 instructions for 2014. The updates as described below by...

3 Reasons Why LSL CPAs Tax Team Recommends FBAR Reporting Of Foreign Financial Accounts

The international tax team at LSL CPAs wants to make it perfectly clear to our...

Important IRS Updates On Special Foreign Assets Reporting In Light Of The Foreign Account Tax Compliance Act

If you are required to report interests in foreign assets to the IRS, the international...

Following The Bahamas & Barbados, Trinidad And Tobago Now FATCA Compliant

Following in line with the Bahamas (November 3) and Barbados (November 17), Trinidad and Tobago...

An Introduction To Common Entity Types For New U.S. Business Ventures

If you are coming to the United States to set up a new business venture,...

Latvia Signs FATCA Accord With The United States, Joining Several Other Eastern European Countries

Joining several other European countries, Latvia has embraced the FATCA Accord. In a significant step...

IRS Changes Offshore Voluntary Disclosure Program To Distinguish Between Non-Willful Taxpayers And Willful Non-Compliance

The IRS announced changes to the OVDP process that clearly distinguished between non-willful taxpayers and taxpayers in...

Did You Know IRS Individual Taxpayer Identification Numbers Expire After Five Years?

Did you know Individual Taxpayer Identification Numbers can now expire? The tax team at LSL...

As FATCA Takes Hold, IRS Increases Offshore Amnesty Penalty From 27.5% To 50% And Expands OVDP Information Requirements

In an effort to keep the OVDP process in light with FATCA developments, the IRS...

IRS Updates FATCA Website With Foreign Financial Institution List, Search Download Tool And Revised FAQs

The IRS updates the FATCA website. With the new Foreign Financial Institution List and Search...

LSL CPAs Update About New FBAR Electronic Filing Requirement And The Approaching June 30 Deadline

Do you know about the new FBAR electronic filing requirement and the rapidly approaching June...

Hyatt Hotels Corporation Partners With Fideicomiso To Open Hyatt Hotel Santa Fe In Mexico City

After negotiating a franchise agreement between a Hyatt affiliate and Fideicomiso de Actividad Empresaria, Hyatt...

3 Tax Tips For U.S. Taxpayers With Foreign Income

During the filing season, the IRS offered online tax tips for U.S. taxpayers who received...

Government Accountability Office Report Reveals California Taxpayers Are A High Percentage Of IRS OVDP Participants

In light of the success of the IRS Offshore Voluntary Disclosure Program (OVDP), the U.S....