Child Tax Credit 2021
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 […]
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Tax Tips
I don’t need to worry about penalties for late filing because I never owe any U.S. tax.
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.
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Foreign Dividends
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
Demystifying IRC section 965 Math
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
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U.S. Expat Taxes – Tax Relief for U.S. Citizens Renouncing Citizenship
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.
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Stimulus Payments, Paycheck Protection Program, Expense Deductibility Headline, Tax Changes In Latest Covid Relief Package
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,
Another Stimulus Bill is Coming
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
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FBAR and Its Maximum Account Balance
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
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What You Need to Know About Taxes Related to Passive Foreign Investment Companies
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
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