Stimulus Checks for US Citizens Living Abroad
During the COVID-19 pandemic, the US government passed three major laws that included stimulus payments for Americans living in the US and abroad. Reviewing these details will help U.S. expats …
During the COVID-19 pandemic, the US government passed three major laws that included stimulus payments for Americans living in the US and abroad. Reviewing these details will help U.S. expats …
Social Security for Expats Americans working abroad by foreign business normally participate in the social security system of their foreign employer. Self-employed Americans abroad, though, might likewise be needed to …
Social Security Payments for Americans Working Abroad (Expats) Read More »
The Child Tax Credit 2021 is a refundable federal tax credit for parents who claim their children as dependents. It was intended to make receiving an education more affordable and …
All you need to know!! Many lawmakers are pushing for a fourth round of Stimulus Checks, but President Joe Biden has not yet shown any support for it. Approximately 24+ …
Typically, penalties are calculated based on tax owed, international information returns, such as from 8938 can cost a taxpayer, if filed late, large penalties even of no tax is due. …
I don’t need to worry about penalties for late filing because I never owe any U.S. tax. Read More »
Your foreign dividends may be eligible to be taxed at a special lowered tax rate. Here’s how you can find out, if they are: When you receive dividends from a …
For foreign earnings, an overview of the taxation. With the bit of time of professionals or taxpayers to prepare for them, the tax code’s tax jobs and cuts introduced many …
U.S Expat Tax Report: A new amnesty program for certain U.S. citizens who have renounced, or intend to renounce, their U.S. citizenship. Among other requirements, you must have renounced U.S. …
U.S. Expat Taxes – Tax Relief for U.S. Citizens Renouncing Citizenship Read More »
Whether you are a corporation or a partnership with international operations or a business or individual working abroad or foreign citizens working in the U.S., we can help you plot …
Covid Relief Package When Congress initially responded to the Covid-19 pandemic by passing the CARES Act on March 27th, 2020 — handing down individual stimulus payments, Paycheck Protection Program loans, …
In recent months and as a result of long negotiations between Congress’s Democrats, Republicans, and the White House on another round of stimulus legislation, the possibility of a deal is …
FBAR or FinCEN Form 114 requires a declaration of all non-US financial accounts, including the highest balance for each account in a year. Also, the due dates for this form …
As a U.S. citizen, no matter what country you live, you have tax duties. IRS requires all U.S. citizens, including expats, to submit standard income taxes. Expats must also file …
What You Need to Know About Taxes Related to Passive Foreign Investment Companies Read More »
Many expats can use the FEIE or the Foreign Earned Income Exclusion as one of the tax money-saving devices. If you want to take advantage of the FEIE, you have …
The Bona Fide Residence Test and the Common Errors Expats Make Read More »
As year-end approaching, we are offering our clients some important tax highlights and updates that we believe are important to shed light on. Its possible that that Congress could enact …
All PFICs that do not presently have Mark to Market or Qualifying Electing Fund elections are taxed under § 1291 of the Internal Revenue Code. § 1291 taxation is very …
The IRS on Monday gave proprietorship attribution rules for deciding the status of companies as controlled foreign partnerships (CFCs) and whether their shareholders are U.S. shareholders (T.D. 9908). The guidelines …
Latest Regulations for controlled foreign corporations (CFCs) Read More »
The IRS provided tools for tax practitioners who can utilize them to connect and contact to taxpayers who don’t ordinarily document their tax returns and are able to get economic …
Tools to help non-filers receive economic impact payments Read More »
To cater the provision of global intangible low-taxed income (GILTI), IRS issued an additional package Sec. 951A, which was added by the law known as the Tax Cuts and Jobs …
GILTI rules address income subject to high foreign tax rate Read More »
This article is only for those who are not able to use Direct Deposit. In the event when you are in US then there will be no issue of getting …
How Expats Can Cash Checks From the IRS While Living Abroad Read More »