
Global Economy and Foreign Reporting
As we as a society get more and more global, taxes begin to get more complex. Take, for example, you have a relative, and they pass away and leave you money. Would that impact your tax return? Well, it depends on where they live and how much money they leave for you. Like many of you, I have relatives all over the globe, and if one were to leave me money or assets, I might have a foreign reporting requirement. Or let's go with a different example; this time, you are taking an