Editorial team of TFX
Articles
The Other Travel Ban - How The IRS Can Take Your Passport
When HR22 was passed on Dec 4 2015, it included specific language amendments to Section 7345 of the US tax code which gave the IRS the authority to ask the US State Department to ...
New Due Date for FBAR filing - April 15 With automatic extension until Oct 15
On December 16, 2016 FinCEN officially announced the new annual due date for filing Reports of Foreign Bank and Financial Accounts (FBAR) for foreign financial accounts. Thi...
Trump's Proposed Tax Changes & Potential Impact on US Citizens Abroad
The election is finally over, but the discussion around potential changes from incoming administration has only just begun. There has been much rhetoric throughout the campaign about big changes to the Tax Code. Let's review the potential points of discussion and how Americans living abroad may se...
Recent ITIN Program Changes Cause Substantial Challenges For Both the IRS and Taxpayers
Individual Taxpayer Identification Numbers (ITIN) Are Required For Tax Filing Taxpayers with a requirement to file tax returns, but who are not qualified to obtain a Social Security Number (SSN), must obtain an Individual Taxpayer Identification N...
Are You Going to be Affected by the Passing of the FAST Act?
The new FAST Act may cause problems for US Citizens living both stateside and overseas. The FAST (Fixing America’s Surface Transportation) Act was passed by Congress on December 3, and President Obama signed the act into law on December 4. There are t...
Tax Changes US Expats Can Look Forward to in 2016
There have been some changes made to the IRS tax code for 2016. The new year is here and a new tax season is about to begin. The new tax year means new updates to the tax code – which is constantly evolving, as Congress makes changes to laws every year. Here are some of changes you can loo...