Among the reminders (with links for further information) are:
- The filing dates for nonresident U.S. citizens and resident aliens.
- Filing obligations of nonresident aliens with U.S. source income.
- U.S. worldwide tax system requiring the reporting of income whereever it is earned or sourced, along with the Schedule B question about ownership or signatory authority over foreign financial accounts.
- The obligation to file Form 8938 with Form 1040 to report specified foreign financial assets.
- The obligation to file FBARs.
- The opportunity for efiling, including Free File for taxpayers earning less than $57,000.
I think that should be stapled in every Passport application or renewal and every visa application or green card issuance. That is what a normal business would do, if they were attempting to really education a populace about the U.S. Government demands for their tribute and reporting no matter where they live in the universe. Think that will happen? Nah, me either.
ReplyDeletePosting something on a webpage doesn't mean much when people are unlikely to find it. A one-sentence statement at the top of the form 1040, 1040EZ, etc. in large bold type would do the trick. I would think that such a statement deserves at least as equal prominence as the checkbox to contribute $3 to the presidential election which is at the top of the tax form.
ReplyDeleteAnd a normal business that buried the mention of the FBAR at the bottom of page 2 (to its credit the questions have been modified to be less confusing and more prominent) and then tried to exact humungous penalties would be in deep trouble with consumer agencies.