Andrew Coleman

For 2025 individual returns filed in 2026, the foreign tax credit high tax kickout rule can move high-taxed passive foreign source income and its related creditable foreign taxes out of the passive category on Form 1116. The key individual threshold is 37%, the highest US income tax rate for 2025 – not 33.3...

Form 5713 reports certain business operations connected with boycotting countries, boycott requests, and agreements to participate in or cooperate with an international boycott. For the 2025 tax year, the IRS Form 5713 instructions matter mainly to US taxpayers with cross-border business or entity activity rather than employees who merely live in...

For tax year 2025, Schedule B reports taxable interest, ordinary dividends, and foreign-account or trust disclosures. Most filers need it when taxable interest or ordinary dividends exceed $1,500, but several other triggers apply. This update is verified for 2025 returns filed in 2026 and reflects IRS and FinCEN guidance available as of...

For the 2025 tax year filed in 2026, US Social Security tax can still apply when an American works abroad, but the result depends on employee status, employer location, self-employment, and any Totalization Agreement. The 2025 Social Security wage base is $176,100, with a 6.2% employee rate. This guide separates payroll tax from benefit...

Individuals who itemize a 2025 return generally attach Form 8283 when their deduction for noncash charitable contributions is more than $500. Section A generally covers deductions over $500 through $5,000, while Section B generally covers items or groups over $5,000, with exceptions such as publicly traded securities. For 2025, non-cash...

A tax home in a foreign country is one of the core requirements for claiming the Foreign Earned Income Exclusion (FEIE). For a 2025 US tax return filed in 2026, a qualifying taxpayer can exclude up to $130,000 of foreign earned income on Form 2555, but living abroad or spending 330 days overseas does not by itself establish a for...