Does Overseas Real Estate Need to be Disclosed to the IRS in Florida?
There are many different factors that need to be taken into account when dealing with offshore real estate. If you have a home overseas the asset itself does not need to be reported. If you have received rental income from the house, the income does need to be reported. If you have entered the Offshore Voluntary Disclosure Programand you have had no income from the house the value is not included in your offshore assets.
If you own real estate overseas, schedule a consultation with the Orlando tax crime attorneys at the Law Offices of Mark L. Horwitz.