Lawyers, Laws & Taxes
If you owe the IRS more than $50,000 or have a have a ‘seriously delinquent tax debt’, you could be in for a nasty surprise later this year.
As a baby boomer, I didn’t grow up with Facebook and other social networking sites. While I do use them — mainly to keep up with younger members of my family — I’m keenly aware of their potential to invade privacy.
Will 2017 be the year of asset confiscation? Will Trump ruffle the wrong feathers and end up losing his presidency? Will China react to the president’s rhetoric and trigger an international incident – or even a war?
How seriously will Trump take this responsibility? This is, after all, a man who threatened to sue newspapers that criticized him. That represents — at the least — a potential violation of the First Amendment’s guarantee of press freedom. Then there was Trump’s promise to use torture not only against terrorists, but their family members as well.
If you’re a US citizen, and you make the decision to buy property abroad, you need to immediately find out what your obligations are in reporting these offshore assets to the IRS.
Looking at Europe, it’s not difficult to see what he means. Greece is drowning in one of the biggest debt crises in history. Italian banks are verging on collapse. And Germany is struggling under the pressure of vicious negative interest rates.
It has been widely argued whether the vacations rentals are subject to the sales tax, in some cases by some Realtors or property managers who seem to be more interested in getting the money…
One of the oldest traditions in the American republic is “government by emergency.” Over the last 2½ centuries, US citizens have endured confiscation, imprisonment, and censorship conducted outside normal constitutional constraints.