Editorial team of TFX
Articles
IRS releases guidance on returning erroneously received stimulus checks
Stimulus Payment Received in Error With millions of stimulus payments already being sent out, the IRS confirmed on May 6 that some economic impact payments were sent by mistake. Payments were sent in error to nonresident aliens, incarcerated people, and deceased taxpa...
IRS Expands FEIE Eligibility Due to Covid-19
IRS adds waiver for 2020 Foreign Earned Income Exclusion (FEIE) Due to COVID-19, the IRS is allowing taxpayers under certain conditions to meet requirements of the Foreign Earned Income Exclusion (FEIE). The IRS understands that many taxpayers, who had otherwise reasonably expected to remain abroad and meet FEIE requirements, had to r...
IRS Provides Relief to Taxpayers With Installment Agreements or Offer In Compromise (OIC)
IRS Introduces additional measures to provide relief for taxpayers during the COVID-19 pandemic. Many are logistical items within the IRS itself, but the below are key items that concern taxpayers, specifically those with installment agreements and offer in compromise (pending or accepted). ...
COVID-19 & 2020 IRS Tax Deadlines --- What You Need To Know
We are in uncharted territory and the IRS and Treasury are acting accordingly to help businesses and individuals. There have been a few extensions of filing deadlines which we will outline below. Importantly, everything is fluid and there may be new changes. We will update as new information comes in. The IRS has created a ...
Changes to US Retirement System after the SECURE Act
SECURE ACT 2019 The House advanced broader Spending Bill including the SECURE ACT OF 2019 to the Senate, and then to the President for approval by Dec. 20. The law will create sweeping changes that will immediately affect retirees and savers. ...
French Tax White Year - Impact on 2018 U.S. Tax Filings
France transitions to PAYE (Pay As You Earn) Starting from January 1, 2019 , French employers with start withholding tax from paychecks.This is a transition from the current payment in arrears to Pay As You Earn (PAYE) basis. French tax authorities have set ...