Is There an Inheritance Tax in the USA?
A question we’re often asked by clients is whether US citizenship has inheritance tax implications, or put otherwise – is there an inheritance tax for US expats?
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FBAR Reporting Penalties Can Be Severe
A number of recent cases decided around the country show that foreign bank account reporting (FBAR) penalties are no laughing matter and can quickly escalate depending on the circumstances.
Read MoreReflection on the Income Tax USA Regime
America’s Independence Day is here, so we’d like to begin this blog by wishing all the American taxpayers living abroad a happy and healthy July 4th.
Read MoreGILTI Tax for Owners of Foreign Companies
As we’ve discussed in previous blogs, Trump’s 2017 tax reform made major changes to the taxation of overseas businesses owned by U.S. persons. The reform installed several new regimes, which are…
Read More4 Tips on Income Tax for USA Citizens Overseas
For the nearly 10 million US citizens living abroad, the income tax implications of USA citizenship can be challenging, given the complexities of the rules and the scarcity of professional help in…
Read MoreThe US UK Tax Treaty
The US UK tax treaty is a very important tool for preventing the double taxation of income. This is true in the case of individuals and businesses, and in the case of UK persons’ activities in the US…
Read MoreAvoiding Double Taxation
US expats living abroad face a number of tax challenges, perhaps the most potent of which is the potential for “double taxation” – i.e., taxation of your income in both the United States and your…
Read MoreChances of Being Audited by the IRS
After some delay due to the government shutdown earlier this year, the IRS has published the 2018 version of its annual IRS Data Book, which contains statistical information about the IRS and…
Read MoreTax Consequences of Renouncing U.S. Citizenship
According to the latest Treasury Department figures, 2019 saw nearly 4,000 U.S. citizenship renunciations, which is slightly lower than recent years, but still quite high in the grander scheme of U.S…
Read MoreAccidental Americans Claiming Discrimination
As reported by Reuters, a group of American citizens living in France filed a class-action lawsuit this past week against local financial institutions, alleging discrimination due to their U.S.…
Read MoreThe Dirty Dozen Tax Scams
The IRS has just published its annual list of twelve tax scams that taxpayers may encounter during this year’s tax season. The list generally consists of two types of tax scams – one involving…
Read MoreGILTI Tax for Individual Owners of Foreign Companies
As we’ve discussed in previous blogs, Trump’s recent tax reform focuses heavily on the operation of overseas businesses by U.S. persons. The reform installs several new regimes, which are broadly…
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