US Expatriate and International Tax Expert to Speak in Puerto Vallarta, Mexico on February 12, 2014

FATCA AND IRS REPORTING FOR DUMMIES - INVESTING IN MEXICO MADE EASY

INTERCAM GRUPO FINANCIERO will Present a Seminar on February 12, 2014 in Puerto Vallarta at the Hotel Marriott Casa Magna featuring Don D. Nelson, US Attorney and CPA.  He is a US expatriate and international tax expert who has been assisting Americans in Mexico for over 23 years.  The seminar will be at 6pm.

He will speak on:

• IRS filing requirements for reporting Mexican and other foreign financial accounts and how to avoid penalties for failing to file in a timely manner.
• The new form 8938 required to report Mexican and other foreign financial assets
• The new on line filing requirements for FBAR (foreign bank account reporting).  Yes you can no longer file on paper.
• IRS Reporting for Mexican Businesses, Corporations, and real estate.
• What to do if you have not been filing your US tax returns or foreign assets reporting forms and how to reduce or avoid the high penalties that may be imposed.
• Current IRS audit procedures and policies for expatriates.
• And he will answer your other questions on US taxation of those who live and work in Mexico

Don's informative and useful tax websites are located at www.TaxMeLess.com and www.Expatattorneycpa.com

Contact intercam at 52-322-2090696 to reserve your space.

Mr. Nelson will also be presenting a seminar in Melaque  on February 13th at 6pm in the Hotel Cabo Blanco.  Call (315) 3556341 to make reservations or learn more.

FATCA for Americans Living In Mexico and Required US Reporting Seminar on 6/21 in Los Cabos

Please be certain to confirm your reservation if you wish to attend.       F.A.T.C.A FOR DUMMIES EVENT When Friday June 21st, 2013 From 5:00 PM to 9:00 PM Add to Calendar    Where Hotel Playa Grande Avenida. Playa Grande1 Plaza Nautica. Cabo San Lucas 23450 Baja California Mexico    Dear Friend, Intercam-Interbanco is pleased to invite you to our conference & cocktail on Tax Reporting for USA Tax Payers living abroad and the Foreign Account Tax Compliance Act (FATCA). Each topic will be addressed under the Financial and Legal perspectives by two experts on the field, respectively.    Speakers: Ing. Eduardo Garcia Lecuona    Don D. Nelson Attorney at Law, CPA.      We look forward to see you on Friday, June 21st at the Playa Grande Hotel, in Cabo San Lucas. Conference: 5:00pm. Cocktails and hors d'oeuvres will be served affter the conference.    "Don't forget to register and prepare your questions"       More Information       Sincerely,         Follow Us

Effective January 1, 2013 Mexican Will Exchange Gringo Financial Information with the US

The United States has entered into its second  bilateral exchange of financial and tax information agreements regarding the implementation of FATCA with  Mexico.  This new agreementd targets non-compliant U.S. taxpayers owning foreign accounts.The agreement will be  become  on January 1, 2013.
The reciprocal nature of the United States' agreement with  Mexico will allow the countries to use the automatic exchange of information to discover non-compliant taxpayers. The good old days of "what happens in Mexico, stays in Mexico" are almost gone. Because the Mexican Hacienda expects to use this agreement to collect taxes from Mexicans hiding their US financial activities in the US from the Mexican tax authorities, both Mexico and the US will benefit.

Now is the time to start reporting to the IRS all of your previously unreported Mexican business and financial activities before this new program is geared up.  If later the IRS discovers you have unreported income or assets in Mexico, and you have not been filing the proper reporting forms with your tax return, it most certainly will impose high monetary penalties and will most likely also seek criminal penalties. The average prison sentence for tax evasion usually runs 3-4 years.  

We can help you catch up. Email us at ddnelson@gmail.com or visit our website at www.TaxMeLess.com  

 

AGREEMENT BETWEEN THE DEPARTMENT OF THE TREASURY OF THE UNITED STATES OF AMERICA AND THE MINISTRY OF FINANCE AND PUBLIC CREDIT OF THE UNITED MEXICAN STATES TO IMPROVE INTERNATIONAL TAX COMPLIANCE INCLUDING WITH RESPECT TO FATCA

See below for the full text of the agreement just entered between the USA and Mexico under the FATCA rules that sets forth the exchange of financial  and TAX information of US Citizens and taxpayers with accounts and financial interests in Mexico and Mexican Citizens with financial interests and accounts in the United States.

MEXICO - US FATCA AGREEMENT FOR EXCHANGE OF INFORMATION - TEXT OF AGREEMENT 

Mexico and US Sign Agreement to Exchange Banking and Financial Information Between Their Governments

On November 19, 2012, in Washington, the Mexican Undersecretary of Revenue, José Antonio González Anaya, and the United States Assistant Secretary for Tax Policy, Mark J. Mazur, signed a government-to-government agreement for the bilateral implementation of the Foreign Account Tax Compliance Act (FATCA).

FATCA was enacted by Congress in March 2010 and is intended to ensure that the US tax authorities obtain information on financial accounts held by US taxpayers with foreign financial institutions (FFIs). Failure by an FFI to disclose information would result in a requirement to withhold 30% tax on US-source income.

Once this goes into effect do not expect to keep your activities in Mexico secret from the US Government or the IRS. Best to surface now with the IRS  before your secret Mexican business, financial and investment activities are discovered through this program when the IRS will not be lenient and will most likely impose both criminal and high civil penalties for failure to properly report.