By: Mary Lundstedt, Esq On March 23, 2018, the IRS issued IR-2018-71, reminding taxpayers that they must report income from virtual currency transactions on their income tax returns. The IRS defined virtual currency as “a digital representation of va...
Read MoreIf you have financial interest in a foreign financial account such as a mutual fund, trust or bank account exceeding certain thresholds, you will be required to report the account annually by electronically filing a form called a Report of Foreign Ba...
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By Mary Lundstedt As cryptocurrency continues to inspire global awareness and dialogue, the news in the US has mostly focused on its regulation as a commodity; however, very recently, states like Arizona and Georgia are on the brink of recognizing Bi...
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Written by Peter Palsen • Principal – International Tax BIEGEL WALLER TAX ADVISORY SERVICES U.S. persons who own 10% or more of the shares of a foreign corporation may need to act quickly on a new rule that can require inclusion of all foreign corpor...
Read MoreOn December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act. This is the first major tax reform since Ronald Reagan was president in 1986. The act replaces the graduated corporate tax rate structure with a flat 21 percent tax, repe...
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