The IRS has issued sweeping changes to the way U.S. taxpayers are required to report interest in foreign bank accounts. Although taxpayers were always required to report and pay taxes on income earned in foreign accounts, not until recently did the IRS along with other government agencies step up enforcement to eliminate attempts to avoid paying taxes.
Monthly Archives: May 2016
Does your foreign company sell products online to American customers? Are you interested in accepting payment in US dollars? If so, it may interest you to learn that to do so you must establish a US based entity which can accept the payments through a US bank account.