Reporting Horrors of Foreign Mutual Funds (“PFICs”)

Posted on: April 24, 2017 | By: Stephen Dunn | Featured, Foreign Assets Compliance, Passive Foreign Investment Companies ("PFICs")

U.S.-based mutual funds annually issue to each of their shareholders a Form 1099 reporting the shareholder’s share of interest, dividends, and capital gains realized by the mutual fund...

Who Should Represent U.S. Taxpayers in Foreign Assets Compliance Cases

Posted on: March 18, 2016 | By: Stephen Dunn | Attorney-Client Privilege, FBARs, Filing Delinquent FBARs, Foreign Assets Compliance, OVDP, Passive Foreign Investment Companies ("PFICs"), Streamlined Procedures

Competent counsel should represent U.S. taxpayers who have failed to file FBARs reporting foreign financial accounts, or who have failed to report foreign financial assets or income therefrom...