Tax Article Blog

Tax Samaritan’s tax resources pages are the source for the information you need, from tax tips and relevant articles in our blog to tax tools, such as tracking your tax refund and to filing requirements. If you’re dealing with a new life event this year, like a new child, read on in this area to learn more about how this changes your tax situation.

Please feel free to contact your Tax Samaritan tax professional for answers to your specific tax situation.

Form 5471 Filing – Information Return of U.S. Persons With Respect to Certain Foreign Corporations

March 30, 2018 - angelaash

U.S. citizens and U.S. residents who are officers, directors or shareholders in certain foreign corporations are responsible for filing Form 5471. Form 5471 Filing Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations, is in an information return that must be filed by U.S. citizens and U.S. residents who are officers, … Continue reading Form 5471 Filing – Information Return of U.S. Persons With Respect to Certain Foreign Corporations

FBAR Penalties

Understanding FBAR Penalties

March 22, 2018 - angelaash

If you have a financial interest in a foreign financial account, it may be a requirement for you to file a Report of Foreign Bank and Financial Accounts (FBAR) with the Financial Crimes Enforcement Work, a bureau of the Treasury Department. If you don’t file this report when it is due, the IRS can impose … Continue reading Understanding FBAR Penalties

Passport Revocation

United States Taxpayers with Seriously Delinquent Tax Debt May Face Passport Revocation or Denial

February 25, 2018 - Randall Brody

Introduction Taxpayers who travel outside the United States frequently and have significant outstanding tax debts should take a special interest in the Fixing America’s Surface Transportation Act (hereinafter “the Act”). The Act may sound unrelated to taxation but it contains provisions aimed at accelerating the collection of larger tax debts thru the possibility of passport … Continue reading United States Taxpayers with Seriously Delinquent Tax Debt May Face Passport Revocation or Denial

Las Vegas Tax Levy

Las Vegas Tax Levy

September 30, 2017 - Randall Brody

When it comes to collecting unpaid debts, the Internal Revenue Service is one of the most powerful organizations in the United States. In addition, the IRS usually begins trying to collect soon after they realize the debt is unpaid, so ignoring their billing notices won’t help. In many cases, the IRS’ aggressive collection activities lead … Continue reading Las Vegas Tax Levy