End of the OVDP, Streamlined Continues….for now

The IRS has finally announced that the current amnesty option under the Offshore Voluntary Disclosure Program will close on September 28, 2018.  As the IRS has collected information through FATCA [...]

Transition Tax Update and Fact Sheet

The Tax Cuts and Jobs Act instituted a transition tax on foreign earnings of certain corporations held by U.S. shareholders.  While we are still waiting for regulations to finalize the details, [...]

You Control Your Paycheck

With the recent tax changes many people have seen an increase in their after-tax pay.  This is due to the new tax rates and corresponding withholding schedules for employers.  However, you are [...]

Extension of Time to File, Not Pay

An extension to file your tax return can be a good option, especially as we wait for some of the new tax changes to be clarified.  However, it is very important to remember that the extension is [...]

Uncertainty Remains for New International Tax Changes, Especially for Individuals

The Tax Cuts and Jobs Act made sweeping changes to our tax laws.  Perhaps more surprisingly, some of these changes took affect immediately and need to be reported with 2017 taxes.  A change this [...]

Little Help for Foreigners with U.S. Estate Tax under New Tax Plan

The Tax Cuts and Jobs Act made estate tax changes for U.S. citizens and domicilaries, such as increasing the unified estate and gift tax exemption from $5.6 million to $11.2 million.  However, [...]

Partner Josh Maxwell joins ANADE

Hone Maxwell LLP is excited and honored to announce our Partner Josh Maxwell’s acceptance into the esteemed Mexican attorney organization of ANADE. Click here for photos.

Update: FBAR and International Reporting Enforcement

For several years the IRS has made it known that international tax and reporting is a top priority.  Additionally, taxpayers and professionals have assumed information gathered under FATCA [...]

Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act took effect on January 1, 2018.  While there were many changes, below are some of the key points: Individual Tax: The new tax bill made significant changes to the [...]

Estate Planning under Tax Cuts and Jobs Act

The “Tax Cuts and Jobs Act” made significant changes to individual and corporate taxes.  In estate and gift taxes, the most significant change was the temporary increase of the estate, gift and [...]