IRS Exchange Rates
U.S. expats face a number of challenges when trying to accurately file a U.S. income tax return with the IRS, some of which are due to the differences in economic realities in the United States and…
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The Bona Fide Residence Test
For U.S. citizens living abroad, the foreign earned income exclusion (FEIE) is one of the most common ways to avoid the double taxation of income. The FEIE allows expats to exclude their foreign…
Read MoreForm 3520 - Top 6 Traps
By many accounts, the IRS Form 3520, and its sister form, the IRS Form 3520-A, represent two of the most complex forms on the IRS filing roster.
Read MoreRoth IRA Taxation for Expats in the UK
American citizens moving to the UK often arrive with their U.S. retirement accounts intact. With the increased popularity of Roth IRAs, especially among millennials, it’s not uncommon for our UK…
Read MoreThe Definitive List of Top Forms for the IRS
The first rule of expat tax basics is that moving abroad does not mean the end of IRS tax filing obligations for a U.S. citizen.
Read MoreNew IRS Compliance Campaign Focuses on Deferred Foreign Income
Despite recent staff shortages and human resource challenges due to COVID-19, the IRS continues to march forward with its campaigns focused on international tax compliance.
Read MoreForm 5471 – Top 6 Reporting Challenges
For U.S. expat owners of foreign companies, U.S. tax compliance can feel particularly onerous when it comes to filing the infamously difficult IRS Form 5471. The Form 5471 is considered by many to be…
Read More2019 Data Book and IRS Enforcement Activities
This past week, the IRS published its annual Data Book, which offers a bird’s-eye view of the IRS’s activities during the past year, with a particular emphasis on enforcement activities, including…
Read MoreApplying the FEIE to International Waters
For many U.S. expats, the key mechanism for preventing double income taxation is the foreign earned income exclusion (FEIE), a U.S. expat tax basic concept. The FEIE allows income earned abroad to be…
Read MoreUsing Form 8832 to Change the US Tax Classification of Your Company
For U.S. expats with businesses abroad, tax planning is essential to ensure that your company is operating tax efficiently.
Read MoreUS Tax Software – Comparing Solutions for US Expats
For the average U.S. tax filer, a number of tax software choices are currently available for annual filings. TurboTax, TaxSlayer, and TaxAct are some of the more popular off-the-shelf software…
Read MoreForeign Exclusion Versus Foreign Tax Credit
For U.S. expats, avoiding the double taxation of income is a key expat tax basic concept. In most cases, this is accomplished by either utilizing the foreign earned income exclusion (FEIE) or the…
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