Kauffman Nelson LLP

Don D. Nelson is an Attorney at Law and retired Certified Public Accountant with 37 years experience in U.S. expatriate, international and nonresident taxation. He can offer you "attorney client privilege" to protect your sensitive and confidential information. Accountants, CPAs and enrolled agents cannot provide you with that important legal protection. He is a partner in Kauffman Nelson LLP, Certified Public Accountants which practices exclusively in International and Expatriate Taxation. He has assisted over 1,000 clients with their US expatriate and International tax matters and prepared many thousands of expatriate and international tax returns.

Website: http://www.expatattorneycpa.com/
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Kauffman Nelson LLP Blogs

U.S. Income Tax for Expatriates, Nonresidents & U.S. International Tax Matters

Blog Authors

Don D. Nelson
Emily MacLoud

Latest from Kauffman Nelson LLP

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Current government and IRS pronouncements are not clear whether the automatic extension of time to file your tax returns and pay taxes without penalties apply to US expatriates living and working abroad (normal tax return due date for expatriates is 6/15/20). This may be clarified in the future, but in the interim if you are an expatriate you may want to pay all taxes by 4/15/20 to avoid interest. The automatic extension until July 15,2020…
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Dear Expat, Clients and Friends Right now, your highest priority is the health of those you love and yourself. But if you have time to read about some non-medical but important matters related to the health crisis, here is a summary of IRS action already taken and federal tax legislation already enacted to ease tax compliance burdens and economic pain caused by COVID-19 (commonly referred to as Coronavirus). I’ll be sending you summaries of additional…
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Many countries are now banding together to locate and prosecute global tax evaders through J5 and the OCED to work together to mutual catch the evaders and report to countries who may be owed taxes by the evaders.  Therefore if you are paying taxes in the country you live in but not paying taxes in another country (such as the USA) where you should, you now run the risk of being turned in to the…
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For this year the FinCEN has stated: “Currently the FBAR (Form 114) regulations do not define virtual currency held in an offshore account as a type of reportable account. For this reason, at this time, virtual currency held in an offshore account is not reportable on the FBAR.”  However for the future you need to follow this issue since the FINCEN position on virtual currency accounts is very likely to change at some point. We…
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If you do not file your Form 114 (FBAR) reporting your foreign bank and financial accounts, you can be penalized severely and so can your heirs after your death. Read case law below about the penalty for failure to file FBARS passing on to the taxpayer heirs: In United States v. Schoenfeld (M.D. Fla. 3:16-cv-1248-J-34PDB), by order dated 9/25/18, here, the Court held (p. 37) that the “the Court finds that the Government’s claim did not…
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A taxpayer that willfully attempts to evade paying income taxes is subject to criminal and civil penalties. The type of fraud will determine the applicable penalty. The following are some examples of possible punishments for specific types of tax fraud. Remember a delinquent taxpayer expat or nonresident, can never be certain if the IRS will not view their actions as beyond negligent but intentional fraud. Therefore, file your past due returns before the IRS finds…
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If you are an expatriate with foreign assets, US assets  or a nonresident of the US with US assets you need to look into estate planning to reduce probate costs, make certain your assets go to the heirs you desire, and  reduce possible US estate taxes.  If you have assets located outside the US, you need to have attorneys prepare a will in that country to make certain those foreign assets go to the desired…
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If you are an expatriate with foreign assets, US assets  or a nonresident of the US with US assets you need to look into estate planning to reduce probate costs, make certain your assets go to the heirs you desire, and  reduce possible US estate taxes.  If you have assets located outside the US, you need to have attorneys prepare a will in that country to make certain those foreign assets go to the desired…
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Purpose of the streamlined procedures The streamlined filing compliance procedures describe below are available to taxpayers certifying that their failure to report foreign financial assets and pay all tax due in respect of those assets did not result from willful conduct on their part. The streamlined procedures are designed to provide to taxpayers in such situations with a streamlined procedure for fling amended or delinquent returns, and terms for resolving their tax and penalty procedure for filing…
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Do not wait to long to file an amended tax return or file your original  tax return if you  expect to get a refund.  The IRS has 10 years to  collect taxes you owe but when it comes to refunding your overpayments you have a limited time. You have  3 years  from the date of the original deadline for your tax return to claim any refund you might be entitled to. Your 2019 tax return is…