Which Form 3520 Amnesty 2023-2024

Good evening and welcome to Esquires Group's webinar on undisclosed income and assets and which IRS amnesty program is right for me. This presentation is for informational and educational purposes only and should not be considered legal or tax advice. It is important to note that everyone's circumstances are different and it is recommended to seek individual guidance for any issues related to the topics covered in this webinar. My name is Jimmy Sexton, and I will be your presenter today. I have a Bachelor of Science in Business Administration with an emphasis in finance, a JD, and an LLM in international taxation. I am the President of Esquire Group, an international tax advisory firm with offices in Las Vegas, Phoenix, Vienna, Frankfurt, and the United Arab Emirates. We specialize in international taxation, with a focus on tax issues facing citizens and resident aliens living abroad, expatriation, investing, doing business abroad, and foreigners investing in the US, as well as undisclosed foreign income and assets. I am fluent in English and German, and if you're interested, feel free to check out my bio through the link on the screen. Now, let's begin by briefly discussing the tax requirements for foreign income and assets of US citizens and residents. US tax laws apply to both US citizens and residents. US citizens are always subject to US tax laws, while US residents can be permanent residents (green card holders) or individuals who meet the substantial presence test. The substantial presence test determines if an individual becomes a tax resident in the United States based on the number of days spent in the country. Calculating if you meet the substantial presence test can be complex, but it involves determining if you spent 31 or more days in the US during the current tax year and...