Tuesdays With Morey - Tax Tips®

Morey and Macarena stress the importance of tax compliance during today’s podcast. They discuss the little details of offshore accounts and offshore corporations some accountants and lawyers may not deem important. Morey reminds us the IRS is smarter than taxpayers think, and even though you haven’t filed for 5 or 6 years it doesn’t mean they are not aware of your status. They just might be hot on your trail. Morey and his team at Glazer Financial keep up-to-date on all of the changes in tax liabilities and international tax requirements so you don’t have to.   Key Takeaways: [1:40] Introducing Teresa, Glazer Financial’s international expert. [3:45] US citizens must file income taxes every year with the IRS, no matter where they live. [5:37] Annual taxes may apply even if you are only receiving Social Security payments. [7:30] FACTA rules have locked US citizens in. IRS agents have systems in place to look at your return records. [9:11] You must have a plan to get current on your taxes and prepare for your fi