U.S. citizens and green card holders must report their worldwide income and file a variety of reporting forms with the IRS to disclose their interests in foreign bank accounts, trusts and corporations. Failure to file such reporting forms can subject U.S. taxpayers to significant civil and potentially criminal liability.
On October 27, the AmCham Taipei Tax Committee invited Christopher Karachale, Attorney and Partner, Hanson Bridgett LLP and Raymond Leung, Certified public accountant and a partner, Leung, Louie, lp & Co. LLP to give AmCham members and guests a detailed explanation of the responsibilities faced by U.S. taxpayes living abroad.
Various programs exist allowing U.S. taxpayers the opportunity to come into compliance with their reporting responsibilities. The presentation will describe these programs and the various requirements for individuals to come into compliance with their U.S. tax reporting responsibilities.
Expatriate U.S. taxpayers and non-U.S. individuals are increasingly interested in investing in U.S. businesses and real estate. In addition to tax reporting responsibilities, the presentation will discuss the advantages and disadvantages of the different entity structures foreign investors may consider for their U.S. investments.
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