Monthly Archives: April 2014

The horrors of retirement planning for #Americansabroad – #PFIC edition


General discussion of how the PFIC rules work in theory:

Discussion of the incredible unfairness and stupidity of the PFIC rules in practice (don’t enter OVDP):

And a comment that says it all:

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Should it be reported on your #FBAR? Not even your accountant knows for sure

The deadline is fast approaching. Mr. FBAR has been updated and modernized.

He has a new name (Form 114).

He has a new look.

He must now be filed online.

He is still one of the U.S.A.’s deadliest forms.

But, the question still remains:

What exactly is required to be reported on your FBAR?

Taxpayers “navel gaze” in fear!

Tax professionals continue to educate!

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Holland Knight clinic on avoiding US “international tax” traps


I came across this incredible summary while researching another issue. It’s enough to make anyone want to avoid the U.S. entirely. Please note that this was written in 2007. Therefore, it should be read to identify “issues” and NOT as a final statement on the law as applied to those “issues”. As you know, times change and the law changes. Nevertheless, you will be horrified by the sheer number of rules/regulations and the complexity thereof.