How U.S. expats use foreign tax credits to offset U.S. tax, including court cases on the net investment income tax.
For several years, U.S. taxpayers living abroad have watched an important dispute over whether foreign tax credits can reduce the 3.8% net investment income tax (“NIIT”). Two taxpayer victories in…
Read MoreIn a case representing a major win for taxpayers, the U.S. Court of Federal Claims (Claims Court), in Bruyea v. United States, has concluded that the provisions of a U.S. tax treaty can in fact be…
Read MoreIn a recent intriguing decision, the U.S. Court of Federal Claims tackled the issue of whether the provisions of an applicable U.S. tax treaty can be used to allow a foreign tax credit (“FTC”) to…
Read MoreThe U.S. government’s support for Ukraine through economic sanctions recently reached the arena of accounting and tax services. The support has come from both President Biden and bipartisan groups in…
Read MoreLargely due to its contiguity with the United States, Mexico continues to be the most popular destination in the world for US expats. According to a US State Department estimate, approximately 1.5…
Read MoreFor 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…
Read MoreOne of the main challenges facing expat tax filers is ensuring they can avoid the double taxation of their income – that is, taxation of their income by both their country of residence and the United…
Read MoreOne of the main methods that US expats use to reduce and often eliminate the double taxation of their income is the foreign tax credit.
Read MorePreviously, we’ve blogged about the IRS’s selection of a group of international tax compliance issues that became part of its issue-focused audit strategy. The IRS has since added more international…
Read MoreOne of the more common issues that our clients face in their expat tax filings is determining the proper tax treatment of the sale of their personal residence abroad. The following are some of the…
Read MoreOne 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 MoreAs we begin the 2020 tax filing season, there are several items that all U.S. expats should be aware of:
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