International Trade Finance & Banking Family Law

Read need-to-know updates, commentary, and analysis on International Trade issues written by leading professionals.
News & Analysis as of

Divorce: Finding Offshore Assets

One of the more important issues in a divorce proceeding is identifying and dividing community and separate property. The task of asset identification and location may have been made both easier and more complex at the same...more

Nonresident Alien Spouse Not Liable for Penalties

There are an unknown number of U.S. citizens married to nonresident aliens. Many of these taxpayers have filed joint income tax returns. Most are likely to have filed joint income tax returns (Form 1040) without having...more

FBAR-The New Marriage Penalty

For those U.S. taxpayers who are married to non-residents there is a new form of marriage penalty if the spouses filed joint returns. To be eligible to file joint returns an election must be made with the first joint return...more

FBAR LIabilty and Innocent Spouse Relief

Taxpayers who are now separated or divorced and had undisclosed foreign bank accounts may wonder if “innocent spouse relief” is available under the Bank Secrecy Act for FBAR penalties. The answer is likely no but could be...more

Divorce, Expatriation and International Sanctions

A current article in the WSJ discusses the 189 U.S. citizens and Permanent Residents who formally and recently expatriated. The article implies that underlying all these expatriations lies a tax driven motive. The tax...more

Divorce Settlements With Foreign Assets; What Are The Risks?

Many couples going through marital separations (divorce) have interests in foreign assets. Often these are dual nationals who have interests in family businesses in their country of origin, but regardless of the source of the...more

If You Hide Assets Offshore From A Spouse Be Sure To File An FBAR

A recent Forfeiture Case was brought against a taxpayer who was hiding financial assets (almost $4.6 M) from his soon to be ex-spouse. The case, US v. $4,656,085 (http://goo.gl/7b64A) illustrates how bad divorce planning...more

7 Results
|
View per page
Page: of 1

Follow International Trade Updates on: