by Antonio Rodriguez | Jun 9, 2025 | Uncategorized
Over the last decade, because of the globalization of the economy and widespread access for individuals to operate abroad, countries have seen their tax revenue decrease due to these international capital movements. In the case of multinationals, the media...
by Antonio Rodriguez | Nov 20, 2024 | AEAT, Modelo 720
Modelo 720 y 721 Declaración de bienes en el extranjero 2024
by Antonio Rodriguez | Jul 6, 2024 | FATCA, FBAR, Finances, IRS - Internal Revenue Service, PFIC Form 8621
For US Citizens and Green Card holders who hold assets with foreign institutions, for whatever reason, the tax ramifications are an area of serious concern. The Internal Revenue Service (IRS) treats money held in foreign banks differently than money held in domestic...
by Antonio Rodriguez | Jul 5, 2024 | Financial Planning, PFIC Form 8621
Passive Foreign Investment Company (PFIC) A foreign entity/form of investment is a PFIC if it meets either the income or asset test described below. Income test. 75% or more of the corporation’s gross income for its taxable year is passive income (as defined in...
by Antonio Rodriguez | Aug 27, 2023 | FATCA, FBAR
The Form 8938 filing requirement does not replace or otherwise affect a taxpayer’s obligation to file FinCEN Form 114 (Report of Foreign Bank and Financial Accounts). Unlike Form 8938, the FBAR (FinCEN Form 114) is not filed with the IRS. It must be filed directly...
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