2016 IRS Data Book Stats
The IRS has published the 2016 version of its annual IRS Data Book, which contains statistical information about the IRS and taxpayer activities during the previous year. The IRS Data Book helps…
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April 18th Deadline
The first quarter of 2017 has come to an end, and this year’s tax due dates are now fast approaching. A quick review of the filing deadlines, however, should help U.S. expats understand that it’s not…
Read MoreRecord Amount of Citizenship Renunciations
The numbers are in from the Treasury Department, and 2016 easily broke the record for U.S. citizenship renunciations. 2016 saw a total of 5,411 renunciations, well above 2015’s previous record of…
Read MoreA Quick Refresher on the Foreign Tax Credit
One of the fundamentally important tax concepts for U.S. expats to know is that the U.S. tax system has built-in mechanisms for preventing the “double taxation” of your income (i.e., tax in both your…
Read MoreIRS Launches 13 Audit Campaigns
Recently, the IRS announced that it will focus its audit efforts this year on 13 particular compliance issues, which touch on large business and international activities. This issue-focused effort…
Read MoreReporting of Foreign Corporations
In a new decision, the Tax Court upheld heavy penalties imposed by the IRS on a U.S. expat taxpayer who failed to report his ownership in two foreign corporations. The decision certainly serves as a…
Read MoreFailed to File FBAR
If you thought FBAR penalties were more bark than bite, a recent U.S. District Court case is sure to change your mind.
Read MoreTax Changes Coming in 2017: What U.S. Expats Need to Know
While the past year did not produce any monumental changes to U.S. tax law, there are a number of noteworthy changes that expats should keep in mind as we enter 2017. We also share a few highlights…
Read MoreLate Filing the Foreign Earned Income Exclusion
We’ve blogged a number of times in the past about the foreign earned income exclusion (“FEIE”), because it is one of the main tax relief measures available to expats filing U.S. tax returns. Expats…
Read MoreIRS Cooperation - Amnesty Programs
The IRS announced recently that since the inception of its amnesty programs in 2009, over 100,000 delinquent taxpayers have taken the plunge and decided that participation is their best option.…
Read MoreEnrollment in IRS Disclosure Programs Surpasses 100,000 Mark
This past week, the IRS announced that over 100,000 taxpayers have now participated in its disclosure programs, which have been available to delinquent filers since 2009. More specifically, according…
Read MoreNew IRS Instructions for Amending a Streamlined Submission
Recently, the IRS updated its Frequently Asked Questions and Answers page for the IRS Streamlined Program to include a new section on amending Streamlined submissions. Since the inception of the IRS…
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