April 2025 – Parent & Parent Advisory

Unfiled Taxes? How to Use IRS Streamlined Procedures for Compliance

Understanding the Importance of Filing Tax Returns Filing tax returns is not only a legal requirement but also a critical step in maintaining financial and legal credibility. When individuals or businesses fail to file, they risk potential penalties, repercussions, and lost benefits. Understanding why filing on time is essential can help taxpayers avoid complications with […]

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Put America first by putting Americans first. End global taxation and compliance bloat

The Concept of ‘America First’: What Does It Truly Mean? The phrase “America First” traces back to movements advocating national priorities as a foundation for policymaking. It conveys the idea that the country’s interests, productivity, and citizen well-being should be fundamental in shaping economic, social, and political frameworks. At its core, this concept emphasizes prioritizing

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IRS Streamlined Disclosures: What happens when you DON’T make one?

Understanding IRS Streamlined Disclosures: An Overview The IRS Streamlined Filing Compliance Procedures are designed to help taxpayers who have failed to report foreign income, assets, or accounts and must rectify their situation without facing severe penalties. These procedures primarily target individuals who can certify that their noncompliance was non-willful, meaning the failure was due to

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How Far Back Must You File Unfiled Tax Returns? | IRSMedic

How Far Back Must You File Unfiled Tax Returns? | IRSMedic Read More »

PFICs, FinCEN Crackdowns, and Social Security’s Future | IRSMedic March 20, 2025 Podcast

The Mysterious World of PFICs: Why They Matter Now More Than Ever The term “PFIC” might sound arcane, but behind this acronym lies a concept that has grown into a pivotal issue for those navigating the intersection of international investments and U.S. tax obligations. A Passive Foreign Investment Company, or PFIC, refers to a foreign

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The IRS’s Frightening AI Strategy: Crypto, FATCA, Criminal Prosecutions, and Audits

The Night the IRS Unleashed Its AI Arsenal It was a pivotal night for the Internal Revenue Service (IRS—a tipping point in its decades-long battle against financial fraud. The agency, historically known for its armies of auditors and reams of paperwork, had embraced something far more ominous: artificial intelligence. But this wasn’t your average algorithm

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Trump’s Golden Visa Program Explained | Can He Actually Do It? | What Is Going On?

The Spark That Ignited the Buzz: Trump’s Golden Visa Proposal The concept of a “Golden Visa” isn’t new, but when former President Donald Trump floated a proposal surrounding such a program, it sent ripples through political and economic arenas. The idea, allegedly hinted at during closed-door conversations and policy brainstorming sessions with his inner circle,

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Form 5471 Training Guide – Understand The Basics – With 2023 Updates

Once Upon a Tax Form: Introduction to Form 5471 In the land of federal tax forms, Form 5471 stands tall like a mysterious castle, shrouded in legal jargon, yet essential for travelers in the realm of international business ownership. This form, affectionately—or perhaps begrudgingly—referred to as “Information Return of U.S. Persons With Respect to Certain

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Outraged by 87,000 new IRS Employees? The Time to Hit Back HARD is RIGHT now!!!!

The Shocking Announcement: How Did We Get Here? The announcement of 87,000 new IRS employees sent shockwaves through households, boardrooms, and political arenas alike. Many Americans were left asking, How did it come to this? Reactions ranged from incredulity to anger, but to understand the implications of such a hiring spree, one must first trace

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HUGE Differences Abound for Expats! Tax Consequences of the Top Destinations Americans To Retire To.

Chasing the Dream: Why Retiring Abroad Appeals to Americans For many Americans, the idea of retiring abroad is more than just a fantasy—it’s an opportunity to rewrite the next chapter of their lives entirely. The allure comes wrapped in promises of a lower cost of living, new cultural experiences, and the chance to stretch retirement

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