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PFIC Edge Cases: What Most Form 8621 Calculations Miss

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC,

Form 8621 Filing Exceptions: Every One, and Where Each Stops

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know your fund is a PFIC,

Fund Mergers, Splits and Spin-Offs: PFIC Events That Don’t Look Like Sales

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC,

Wash Sales and PFIC Shares: The Loss and Holding Period That Move

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC.

PFIC Currency Translation: Spot Rates, Fund-Currency Math and Pence

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know your fund is a PFIC.

PFIC Losses: Why a Loss on One Block Doesn’t Offset a Gain on Another

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know your fund is a PFIC.

The PFIC Interest Charge: Daily Allocation, Top Rates, Daily Compounding

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC,

The PFIC 125% Test, Block by Block

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC

ISIN, Listing or Charter: What Makes a Fund Foreign for PFIC Purposes

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far, so I’ll skip the basics. You know

PFIC Lot Tracking: Why Every Purchase Is Its Own Calculation

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC.

Tainted and Clean PFIC Lots: One Fund, Two Tax Treatments

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know your fund is a PFIC,

The PFIC Start-Up Exception: When a New Fund’s First Year Doesn’t Count

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far, so I’ll skip the basics. You know

Which Tax Software Supports Form 8621? The DIY Programs Compared

By Edward Parsons, CPA · licensed since 2009 Key takeaways People ask me which tax software to use for Form 8621,

Expat Tax Software and Form 8621: Expatfile, MyExpatTaxes and H&R Block Expat

By Edward Parsons, CPA · licensed since 2009 Key takeaways Living abroad changes which funds you can buy. The bank down

Cash App Taxes and Form 8621: Why “Small” Doesn’t Mean Simple

By Edward Parsons, CPA · licensed since 2009 Key takeaways Free tax software is built for straightforward returns, and most of

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Streamlined vs Traditional Tax Resolution

Compare streamlined and traditional tax resolution procedures. This guide helps you catch up on US taxes with

International Tax Obligations: Critical Consequences

Discover the serious consequences of ignoring international tax obligations. This guide explains cross-border tax rules and compliance

I Had Heard of FBAR but Did Not Think It Applied to Me: Mistake or Willful Blindness?

Having heard of the FBAR does not make a filing failure willful. The IRS defines non-willful conduct

My Foreign Accountant Did Not Know About FBAR or Form 5471: Can I Claim Professional Reliance?

A foreign accountant can be excellent under local law and never retained for U.S. filing obligations. A

I Filed Form 8938 but Forgot the FBAR: Does That Support a Non-Willful Explanation?

Update: the IRS has withdrawn the Delinquent FBAR Submission Procedures. The programme’s page on irs.gov now returns

My Foreign Corporation Was Dormant and Had No Income: Could I Still Have a Form 5471 Problem?

A foreign corporation with no operating income can still carry Form 5471 questions. Ownership, filer category, capital

I Thought FBAR Covered Only Personal Accounts, Not My Foreign Company Account

The belief that FBAR covers only personal accounts is one of the most common explanations for missed

I Filed FBARs but Left Off Some Foreign Accounts: Can the Failure Still Be Non-Willful?

Filing FBARs that list some foreign accounts and omit others is not automatically willful, but it raises

I Reported the Foreign Interest but Forgot the FBAR: Do I Need Streamlined Filing?

Update: the IRS has withdrawn the Delinquent FBAR Submission Procedures. The programme’s page on irs.gov now returns

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