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IRS Announces New Report of Foreign Bank Account (“FBAR”) Relief

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IRS Annouces New Report of Foreign Bank Account (“FBAR”) Relief for U.S. Citizens Residing Abroad & U.S. Expatriates Holding Foregin Retirement Accounts On June 26, 2012 the IRS announced a long awaited easier path for those US individual taxpayers they consider to be “low risk” who reside abroad and have not been in US tax…

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Housing and Economic Recovery Act (HERA) Exclusion Changes January 2009

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Effective January 1, 2009 New Rules for Taxing Gain: 2008 Housing and Economic Recovery Act (HERA) Exclusion Changes The 2008 Housing and Economic Recovery Act (HERA), H.R. 3221, included a provision that modifies the application of the $250,000/ $500,000 exclusion, but ONLY in situations in which an individual who owns a second home or rental home…

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