Andrew Coleman

Updated for 2026, US law does not maintain an official country-by-country approval list for second nationalities. Americans can generally hold another nationality without losing US citizenship unless they perform an expatriating act voluntarily and with the intention of relinquishing US nationality. This dual citizenship countri...

The IRS imposes a $10,000 initial penalty for not filing Form 5471 per foreign corporation, per annual accounting period – regardless of whether any tax is owed (IRC §6038(b)). If the failure continues after IRS notice, continuation penalties can push the total to $60,000 per form per year. The penalty multiplies across entit...

IRS Form 12661 can help a taxpayer reopen a closed IRS examination when new information was not considered during the original audit and an assessed liability remains unpaid. For Americans abroad, that can matter after a correspondence examination involving Form 2555, Form 1116, foreign income, or other disputed tax issues. The form its...

The IRS tax amnesty program — often called the tax amnesty program or federal tax amnesty — is an umbrella term for several tax compliance relief options in the US. IRS tax amnesty is not tax forg...

Form 1040-PR is no longer the form Puerto Rico residents use for a 2025 federal self-employment tax return. The IRS discontinued it after 2022. For tax year 2025, filed in 2026, use Form 1040-SS or its Spanish version, Form 1040-SS (sp). That change matters because older search terms such as 1040 PR tax form, IRS Form 1040 PR, and PR 10...

IRC Section 987 governs how a taxpayer with a qualified business unit, or QBU, using a functional currency different from its owner measures taxable income and foreign currency gain or loss. For 2026, the operative rules include TD 10016, Notice 2026-17, and later 2026 proposed guidance. For a US expat business abroad, the difference be...