Andrew Coleman
Articles
Relief from Filing Forms 3520a/3520 for Certain Tax-Favored Foreign Trusts
IRS exempts certain plans from onerous trust reporting Rev. Proc. 2020-17 exempts from section 6048 information reporting an eligible individual’s transactions with, or ownership of, an applicable tax-favored foreign trust. As a result, the penalties under section 6677 ...
Totalization Agreement and Additional Child Tax Credits
Totalization agreements US citizens and green card holders residing abroad are responsible for making contributions to the U.S. Social Security system on net business income. Self-employed taxpayers residing in a country that has a ...
U.S Tax Impact from portability between non-US retirement plans
Transfer of funds from one pension plan to another may be treated a taxable event in the US (there is no official document to substantiate the tax exemption). Introduction Many Americans are working abro...
How You Are Affected by the Affordable Healthcare Act as a US Expat
For the first time, United States Citizens are obligated to report information regarding health care coverage as well as their eligibility on their US income tax return. This is all because of the ACA (Affordable Care Ac...
NATO Personnel & US Tax
Ottawa Agreement & US Tax Ottawa Agreement outlines taxation for NATO Personnel. However, this is mostly in the eyes of the 'host country'. For US persons, NATO Compensation is not exempt from U.S. Tax (except for Combat service) The agreement provides tax exemption from the host country...
Tax Reform for Individuals With Foreign Corporations - Extended Effect of Sec 962 Election
What does Sec 962 mean for U.S. owners of foreign-controlled corporations (CFC)? The cornerstone of Tax Reform 2017 in the area of international taxes is the imposition of Transition t...