Taxes, Not Tequila: A Refresher Course On Cinco De Mayo

Happy Cinco de Mayo! Contrary to popular belief, Cinco de Mayo isn’t Mexican Independence Day – that’s on September 16 (be sure and drop that casually tonight over tequila shots and margaritas and you’ll sound super smart). It is, instead, the anniversary of the Mexican army’s victory over France at the Battle of Puebla during … Read more

Numerous FIFA Officials Arrested In Massive Corruption Scheme Tied To World Cup, Other Tournaments

The soccer world was rocked this morning to learn 14 defendants have been charged with racketeering, wire fraud, money laundering conspiracies, and other offenses, in a wide-ranging corruption scheme. The defendants include two current FIFA Vice Presidents as well as the current and former Presidents of the Confederation of North, Central American and Caribbean Association … Read more

Taxes From A To Z (2015): Z Is For Zloty

It’s my annual “Taxes from A to Z” series! Next up: Z Is for Zloty U.S. resident taxpayers must pay their taxes in U.S. dollars. Of course. But what about international taxpayers? International taxpayers without a U.S. bank account are allowed to transfer funds from their foreign bank account directly to the Internal Revenue Service (IRS) … Read more

Taxes From A To Z (2015): T Is For TIN (Taxpayer Identification Number)

It’s my annual “Taxes from A to Z” series! Next up: T Is For TIN (Taxpayer Identification Number) To take advantage of most credits, deductions and exemptions, the Internal Revenue Service requires that you provide a TIN, or Taxpayer identification number for yourself, your spouse and your dependents. Not all TINs are credited equal. When … Read more

After BBC Sacks Top Gear’s Clarkson, Viewers Say They Won’t Pay Tax

I am not a car person. I never have been. My first car was my parents’ old Buick, I now drive a practical but boring Honda. I’ve never been to the Philadelphia Car Show. And I’d rather have a root canal than go to a car dealer. Despite this, I managed to raise a car … Read more

Taxes From A To Z (2015): J Is For J Visa

It’s my annual “Taxes from A to Z” series! Next up: J Is For J Visa If you are lawfully present in the United States, figuring out your tax situation can be tricky. But it’s also extremely important to get it right since taxes can directly impact your immigration situation. Failure to file properly can … Read more

German Bank Will Pay $1.45 Billion To Settle Sanctions, Money Laundering Charges

The international dollars keep rolling in. Yet another bank has agreed to pay a fine in response to ongoing investigations into foreign accounts. Commerzbank AG, headquartered in Frankfurt, and its U.S. branch, Commerzbank AG New York Branch (called Commerz New York), have agreed to a deferred prosecution agreement which calls for, among other things, the … Read more

Bank To ‘Star Trek’ Fans: It May Not Be Illegal But Stop Spocking Our Bills

The Bank of Canada has a message for many Leonard Nimoy fans: Stop Spocking our bills. To honor the late actor Leonard Nimoy, Canadian fans have been marking up Canadian $5 bills (worth $4.02 US), turning the face of Sir Wilfrid Laurier into Nimoy’s Star Trek character by adding slanted eyebrows and pointed ears; some … Read more

Taxes From A To Z (2015): B Is For Bona Fide Residence Test

It’s my annual “Taxes from A to Z” series! Next up: B Is For Bona Fide Residence Test If you are a U.S. citizen or a U.S. resident alien, you’re taxed on your worldwide income (just ask London Mayor Boris Johnson). However, you may be able to exclude some or all of your foreign wages … Read more

Mayor Of London Boris Johnson Announces He’ll Renounce U.S. Citizenship

Boris Johnson, the Mayor of London, is finally saying “Cheerio” to his friends across the pond. The American-born Brit (he’s a New Yorker by birth) has announced that he will give up his American citizenship as part of his “commitment to Britain.” The announcement came on the heels of a six-day trade show in the … Read more