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 »
Transfer of funds from one pension plan to another may be treated a taxable event in the US (there is no official document to confirm the tax exemption). Introduction Numerous …
U.S Tax Impact from portability between non-US retirement plans Read More »
Update: The IRS has reversed their stance and senior citizens, Social Security recipients, and railroad retirees who are not otherwise required to file a return will not have to. Update 2: IRS …
COVID-19 impacted the whole world badly in general and USA in particular. Due to this unprecedented situation where normal travelling and flight operations has been suspended across the globe, many …
IRS adds waiver for 2020 Foreign Earned Income Exclusion (FEIE) Read More »
As part of funding legislation for the federal government, President Trump signed a law of Setting Every Community Up for Retirement Enhancement (SECURE) Act on December 20, 2019. The law …
Tactics for Stretching Retirement Assets under the SECURE Act Read More »
IRS introduced many relief measures for taxpayers to help them through the economic disruption caused by COVID-19. These measures includes legislative and administrative changes to provide many short term and …
In September, the IRS announced that they would mail time-limited settlement offers to certain taxpayers under audit who had participated in abusive micro captive insurance transactions (IRS News Release IR-2019-157). …
IRS offers to settle microcaptive insurance cases Read More »
The look and feel of iconic tax return form, the Form 1040 has been virtually recognized by everyone for many years. Although the form is complex yet consistent. With the …
While submitting the shareholder’s tax return (or, if applicable, partnership or exempt organization return), fill the Form 8621 as per instructions mentioned in it, attach it with return and file …
Requirement to File Informational Return Form 8621 Even If Below Filing Thresholds Read More »
The IRS issued a revenue procedure to help tax payers and relevant passthrough entities (RPEs) that provides a safe harbor. As per procedure a “rental real estate enterprise” will be …
Streamlined Program Overview The IRS streamlined program breaks down into two camps. 1. Streamlined Foreign Offshore Program (SFOP) 2. Streamlined Domestic Offshore Program (SDOP) – described herein The main difference between …
Domestic Streamlined Offshore & Certification Form 14654 Read More »
