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Signed into law last December and now partly in force, the sweeping retirement overhaul package presents new planning opportunities for millions of Americans and financial advisors.
The man failed to declare rental income from two properties and provided fictitious invoices to the Inland Revenue Authority of Singapore.
From accidentally paying state taxes on T-bill income to wonky filing deadlines, these tips will help make a federal tax return sparkle. Or at least clean.
Americans pay billions of dollars in taxes each year when draining their retirement plans as they change jobs. The "leakage" doesn't bode well for long-term savings, data shows.
The arrangement to split property ownership in this manner has attracted the attention of authorities over possible cases of tax avoidance.