A US person may have international tax reporting obligations to the IRS if he owns more than 10% of the shares of a foreign corporation. US persons who may be […]
Reporting requirements for your interests in foreign corporations Read More »
American expats are happy to quickly end their tax ties to their former state of residence. Unfortunately, they are not always able to completely do so. This may result in
I do not have to file a state tax return because I moved abroad. Read More »
This is another area of frustration. Foreign mutual funds, exchange-traded funds (ETFs), and other pooled investments are generally classified as Passive Foreign Investment Companies for US Tax purposes or PFIC.
Are foreign investments treated like U.S. Investments? Read More »
Expat Taxes: Due to the complexity of US tax rules, some of the tax reduction and simplification ideas that are shared online among non-experts can turn out to be ingenious
The Company is on my spouse name, do I still have to report it in my expat taxes? Read More »
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
Stimulus Checks for US Citizens Living Abroad Read More »
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
Child Tax Credit 2021 Read More »
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
