Will I get tax credit on my monthly contributions to a UK pension fund, my accountant said it's considered PFIC

You should instruct the accountant to review the US-UK Tax Treaty. The Treaty deals with contributions to UK pensions which may result in better...

Is there a manner that I can get the IRS penalties and interest removed.

Mr. Bielitz answer of maybe yes, but probably not is spot on. All late payments to the IRS accrue interest charges, and those are very rarely...

Do international students on F1 visas have to file taxes?

If you have US income, you need to file a US return. As an F1 on OPT, the issue would be whether you file as a non-resident (1040NR or 1040NREZ) or...

Fatca,tax

You recover the 30% withholding by filing a tax return in the United States. You cannot use the EIN number on a personal return, you would need to...

Is this true? and can this lead to a refund of previously held social security and medicare tax?

There is a 5-year lifetime limit for the exemption, since you entered in 2009, you may be a resident if you used up the exemption already. If you...

Can I take Louisiana Dept. of Rev. to court claiming this tax is out of line?

You can sue anybody for anything, the issue is whether you can win. I don't think there is a case arguing that the intent of Louisiana's...

A G I adjusted gross income.

Yes, the income accreted from zero-coupon bonds is included and taxable if the bond itself is taxable. Most muni bonds are taxable for Federal...

If you were paying her for work on the LLC and you filed a 1099 to reflect this, you were paying her as a contractor and she would be liable for...

How to address depreciation recapture to limit tax liabilities?

From the IRS itself, "You should claim the correct amount of depreciation each tax year. If you did not claim all the depreciation you were...

I got green card in Aug 2011 but my CPA filed 1040NR for 2011 for me. Now I am applying for citizenship. Am I in trouble?

You actually need to speak with an immigration attorney and here is why. Filing the 1040NR under the Tax Treaty provisions is correct from a tax...