Editorial team of TFX
Articles
Tax Guide for Mexican Expats in the U.S.
If you’re thinking of moving from Mexico to the United States, you probably have many questions. Will you, for example, pay income tax in the United States, and if so, how much? What forms do you need to submit? What will the Internal Revenue Service (IRS) think of your Mexican assets? Here are the key U.S. tax issues that Mexican expats sh...
Tax Guide for British Expats in the U.S.
The United States is a preferred destination for British expats for several reasons. Whether it’s the similar lifestyles, the shared language or the vast array of locations, it’s no wonder that there are millions of British expats living in the U.S. However, although there are a lot of similarities between the two countries,...
Tax Guide for Australian Expats in the U.S.
If you have recently arrived in the U.S. or are considering relocation, you likely have a number of questions. For example, what is the U.S. tax system? What forms are you required to file? How will the Internal Revenue Service (IRS) view your holdings in Australia— especially your Superannuation funds? To make your relocating eas...
The ‘Math Error’ IRS Notice 2021
11 Million Americans Received Math Error Notices Over 11 Millions of Americans received a confusing letter from the IRS in 2021 saying they owe more taxes. For most taxpayers, this letter was sent erroneously. In 2019, about 2 million “Math Error” notices were sent to taxpayers. The surge in math-error notices in 20...
Google to Begin Deducting Taxes From YouTube Creators
In a move that will affect the income of millions of content creators, YouTube has announced that it will soon begin withholding federal income taxes on creator earnings generated from viewers in the United States. The policy change is set to kick in as early as 1 June 2021. The video streaming giant has asked creators in the YouTube Pa...
Investors Beware: The IRS Chases After Crypto Profits
As cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin go mainstream, the Internal Revenue Service (IRS) is cracking down on American taxpayers who haven't declared their crypto assets or paid taxes on them. If you want to avoid a tax mess, you need to declare your crypto assets and crypto-sourced earnings to the IRS. Fai...