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 […]
FBAR and Its Maximum Account Balance Read More »
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
Year End Tax Planning Read More »
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
Section 1291 Taxation Read More »
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 »
