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New York City, NY
35 West 81st 2C
New York, NY 10024
landline: 1 (347) 535-0081
mob: 1 (212) 213-0255

Cannes, France

landline:  +33 0970444609

Rome, Italy

Via Cassia 595/F
00189 Rome, Italy
landline:  +39 06 33249311
cell: +39 3331350933


Foreign Tax Issues

Declaring Foreign Financial Assets

US taxpayers who has $10,000 or more in foreign financial accounts must declare these accounts and their maximum balances during the year on a form TD F 90-22.1. it is required to be filed by June 30th of each year.
Many US residents abroad aren’t aware of this requirement, and most US taxpayers don’t run into it until they relocate overseas and open up the usual round of bank, savings and investment accounts. Even if you don’t receive enough interest to have to file a Schedule B with your 1040, you may need to do so in order to answer the questions at the bottom of the Schedule. (They also mention another form, Form 3520, if you have any sort of foreign trust.) As long as you have to download the form, you might as well fill in your interest and dividend income asked for on the Schedule B - if only to show to the IRS that you’re reporting all the interest from all your foreign accounts.

The Treasury form (often referred to as the FBAR form) is simply a listing of your foreign accounts. Over time, they have started requiring more and more information, like the account number and the high balance for the year (at one time, they just had you indicate by range the maximum balance). There is a separate section of the form for listing accounts you hold in joint ownership with someone else and another section for accounts you have signature authority over (but no “financial interest”). Read the instructions for this form carefully to see how your various accounts fit into the several categories.
If your spouse, or other person with whom you share an account doesn’t have a US ITIN, just fill in “NRA” (non-resident alien) in the space that asks for the ITIN. In the case of a foreign company or association that doesn’t have a US business presence, fill in “N/A” or note that this is “not a US entity” in the ITIN space.

There are further filing requirements for US taxpayers who have certain types of foreign financial investment assets. The new requirements are intended to find instances of abusive tax shelters and US taxpayers hiding money in offshore accounts and dodgy investment deals. Unfortunately, the new regs do affect some of us “simple expats” with perfectly legitimate foreign assets. These assets have to be summarized on a new form, 8938.
Foreign specified assets include:
  • A bank account with a foreign financial institution
  • A stock or security issued by a foreign person
  • Any financial instrument or contract held for investment issued by a foreign issuer
  • Any interest in a foreign entity

Information that will be required to be reported includes:

  • For bank accounts – account number and name and address of financial institution
  • For stocks and securities – class or issue information and name and address of issuer
  • For financial instruments – information necessary to identify the financial instrument and the name and address of all issuers and counter parties
  • Maximum value of the asset during the year
The penalty for not providing the requirement information is $10,000.

There has already been multiple “discussions” of the moral and ethical aspect of all this “new” reporting. But it’s the law now, and I am just here to help you determine what, if any, obligation you have to comply with this.  It’s not yet clear to what extent the IRS is going to be able or willing to investigate discrepancies.


Why do you need Tax Services?

Understanding and minimizing your taxes liabilities is vital to maintaining your wealth. Not fully understanding the tax position on your income and assets in the US or another country often leads to the payment of unnecessary taxes and in some cases you may be taxed twice.

With the right tax advice you can make sure that you understand the local tax implications and are able to minimize your tax liabilities both in the US and overseas, or if you are moving to another country; already living overseas or planning to buy assets in another country.

US and Overseas Tax Accounting and Consulting Services

Formally with the International Division of the IRS at the US Embassy in Rome, I provide quality, convenient and efficient tax preparation and consulting services.

I am an enrolled Agent and licensed to Practice by the Internal Revenue Service. A member of the National Society of Accountants with a total of 16 years of Government, Public and Private Individual Tax Accounting Services both stateside and abroad.

Services are available  WORLDWIDE throughout the tax year.

Being familiar with the tax needs of individuals stateside and abroad, this website was designed to meet those needs. I have incorporated useful features such as contact information, links for tracking your tax refunds, deadline due dates, tax deductions, new tax law legislation for the current year and lots of answers to your questions. You can order organizers for your current years taxes...

Most importantly, you can securely access selected documents I have prepared for you. I take your efficiency, and mine very seriously.

How can I get my personal refund information?

Go to the Where's My Refund? online tool to check on the status of your refund.

You can generally get information about your refund 72 hours after IRS acknowledges receipt of your e-filed return, or three to four weeks after mailing a paper return.

You'll need to provide the following information from your tax return:






* Your Social Security Number (or Individual Taxpayer Identification Number)
* Your Filing Status
* The exact whole dollar amount of your refund