2020 Year in Review: COVID-19, Cryptocurrency and Other Tax Issues that Could Lead to Trouble in 2021
Posted in News, Offshore Account Update on December 31, 2020
Posted in News, Offshore Account Update on December 31, 2020
Posted in News, Offshore Account Update on December 17, 2020
U.S. taxpayers with financial assets overseas have an obligation to report these assets to the federal government. While there are certain thresholds, most individuals and entities with offshore financial assets will need to report them, and failing to do so can lead to substantial penalties. In order to avoid these penalties, it is strongly advised that all U.S. taxpayers with offshore assets consult with a Virginia international tax attorney.
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