Gain insights into federal tax liens and related actions. This overview educates on implications and resolutions to help individuals make informed

Learn the essentials of federal tax liens and how they impact citizens. Understanding these liens can help avoid financial pitfalls and

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By Edward Parsons, CPA | Ed Parsons CPA, Doral, Florida | Representing taxpayers nationwide | Never filed Form 8621 for a

By Edward Parsons, CPA | Ed Parsons CPA, Doral, Florida | Representing taxpayers nationwide | A PFIC can be taxed three

By Edward Parsons, CPA | Ed Parsons CPA, Doral, Florida | Representing taxpayers nationwide The excess distribution regime under Section 1291

Do you have to file Form 8621? Not always. The de minimis exception lets you skip the yearly PFIC report if

By Edward Parsons, CPA | Ed Parsons CPA, Doral, Florida | Representing taxpayers nationwide | If you moved to the U.S.

Are foreign ETFs PFICs? Almost always, yes. An ETF organized outside the United States, including the Irish-domiciled UCITS ETFs common in

A CFC and a PFIC are two separate sets of U.S. tax rules for foreign corporations. A CFC is about control:

By Edward Parsons, CPA | Ed Parsons CPA, Doral, Florida | Representing taxpayers nationwide | Is your foreign mutual fund a

By Edward Parsons, CPA | Ed Parsons CPA, Doral, Florida | Representing taxpayers nationwide | You must file Form 8621 if

The PFIC asset test asks whether, on average across the year, at least 50% of a foreign corporation’s assets are passive,

By Edward Parsons, CPA | Ed Parsons CPA, Doral, Florida | Representing taxpayers nationwide The PFIC income test asks one question:

By Edward Parsons, CPA | Ed Parsons CPA, Doral, Florida | Representing taxpayers nationwide A PFIC, or Passive Foreign Investment Company,