The IRS has just announced new information regarding the transition tax, mainly revolving around deadlines and extensions for the 8-year installment plan.  Through three new FAQs on the IRS’s [...]

The U.S. income tax and estate tax both function under a system with only two possibilities, a taxpayer is either a U.S. person / domiciliary or not a U.S. person, referred to as a non-resident [...]

With the strength and stability of the U.S. economy, strong rule of law, and new favorable tax laws, foreign investment into the U.S. is continuing to grow.  Although the tax law changes have [...]

Every year the IRS, and our office, warns taxpayers about potential scams.  From our experience, this year the most common scam was a phone call.  The taxpayer would get a phone call and is asked [...]

Per IRS Notice 2018-26, taxpayers that qualify for the automatic two-month extension to June 15 under Treasury Regulation 1.6081-5, will have this same two month extension applied to the first [...]

Hone Maxwell LLP is pleased to announce the addition of Tara Shah to our team.  Recently, the firm has emphasized providing international counsel, assisting in managing all legal needs for [...]

India and Hong Kong have agreed to a double tax avoidance agreement.  Many people would likely assume this is not a noteworthy development for Americans; however, these are the treaties that [...]

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 [...]

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, [...]

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 [...]