Listen "Avoid Costly Mistakes: IRS Foreign Bank account and Gift Reporting With Eli Noff - EP 2"
Episode Synopsis
👨💼With Special Guest: Eli NoffIn this episode of 'Own It with Samina,' guest Eli Noff, a seasoned tax attorney and CPA, delves into the complexities of defending clients before the IRS and state taxing authorities. Eli discusses critical issues including compliance with international tax laws, voluntary disclosures, streamlined filing procedures, and penalty abatements. The conversation touches on essential forms U.S. taxpayers need to be aware of when dealing with foreign assets, such as the FBAR (FinCEN 114), Form 3520 for foreign gifts or inheritances, and FATCA (Form 8938). The episode emphasizes the importance of proactive tax planning, sharing specific scenarios and procedures for coming into compliance, such as voluntary disclosures and streamlined processes. Eli highlights the necessity of working with qualified professionals to navigate the intricate requirements and avoid significant penalties.#RealEstateJourney #RealtorLife #ResidentialRealEstate #RealEstateTips #MarketKnowledge #RealEstateSuccess #WorkLifeBalance #RealEstateInsights #LocalMarketExpert #ContinualLearning #RealEstateChallenges #RelationshipFocused #RealEstateImpact #TeamBuilding #RealEstateAdvice🗣️Notable Quotes:“ it's certainly been a privilege to get to know all these people so well through this intense process where some of them are making the biggest investment of their lives. “ 📇Connecting with Eli Noff :Facebook: https://www.facebook.com/HughesNoffTaxLaw/LinkedIn: https://www.linkedin.com/in/eli-noff-esq-cpa-ba285146/Website: https://hntaxlaw.com/🎙️Connecting with Samina Chowdhury :Facebook: https://www.facebook.com/BobLucidoTeamSaminaChowdhuryInstagram: https://www.instagram.com/schowdhury/LinkedIn: https://www.linkedin.com/in/samina-chowdhury-a9b35b2/Website: https://saminasells.com/ ⭐ Produced by Icons of Real Estate - https://iconsofrealestate.com/
ZARZA We are Zarza, the prestigious firm behind major projects in information technology.