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All
U. S. citizens as well as green card holders are required to file an annual
United States Federal income tax return. The level of income does not determine
whether a return must be filed. In addition, anyone owning real property
or (in many cases) earning investment income must also file an annual federal
income tax return, and in the case of real property usually a State income
tax return. United States individuals who are shareholders in foreign companies
whether they actively participate or not are required to file information
returns, the failure of which to file may result in severe penalties.
Advice is given to
individuals, corporations and trusts in a wide range of areas relating
to their personal and business affairs.
For further discussion of a subject, please contact us: info@whaglobal.com
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