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Category: Important Trends at IRS

A look back at FATCA’s first four years

Texans with international business and financial interests may be familiar with a federal law called the Foreign Accounting Tax Compliance Act, or FATCA. Following its initial adoption in 2010, the statute recently completed a four-year ramp-up period and is now in full effect. FATCA background information American tax law requires […]

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IRS releases updated “Taxpayer Bill of Rights”

A new publication from the IRS aims to inform taxpayers of their basic rights when dealing with their taxes. The Internal Revenue Service (IRS) recently released a revised Taxpayer Bill of Rights. The document is posted on the agency’s website and was sent to homes across the country in thousands […]

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New FBAR deadline affects foreign account holders

A new law signed recently by President Obama will change the filing deadline for reporting foreign financial assets, bringing it into alignment with the standard April 15 deadline for filing income tax returns. The change will take effect starting with the 2016 tax year. Who has to file an FBAR? […]

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