If you do, you may need to keep track of your trades for income tax purposes. The IRS is concerned that people may not be reporting their trades on their income tax returns. Protecting yourself Consulting a tax attorney can help you to address this issue and avoid...
Tax Law And Litigation Services For Businesses And Individuals
Month: August 2020
What happens if you fail to report foreign assets and accounts?
If you hold a foreign financial account, United States law requires that you report the account, not only on your income tax return, but also in an annual foreign bank account report, or FBAR. You could face serious legal consequences if you do not report the foreign...