Editorial team of TFX
Articles
US Expat Taxes - What’s New in 2014?
Although there is still well over a year to go before it will be time to file 2014 income tax returns, the time to begin planning your tax strategy is now. Adjustments in withholding or estimated tax payments that may result from the expiration of certain tax deductions or credits will be much less painful if they are spread throughout the year r...
More and More Expats Are Deciding to Expatriate From the United States…For Good
More US Citizens and Green Card Holders have escaped the veil of US taxation and reporting obligations by officially expatriating from the United States in the first half of 2013 than any previous year in US history. Total so far in 2013: 1,809. This year more than any previous year in documented US history, U...
Green Card Holders With Undeclared Foreign Assets or Income Are at High Risk of Criminal Conviction and Deportation
Last year the United States Supreme Court issued into law that any US Green Card Holder who knowingly filed a false income tax return, was found guilty of aiding and abetting a false US income tax return, or misfiled or failed to file an FBAR was subject to deportation and criminal prosecution. Last year, Kawa...
Tax Deductions That May Not Be Available in 2014
There are at least 9 tax deductions that may no longer be available to US Taxpayers in 2014 US Expats and stateside citizens alike take advantage of a variety of tax deductions each year. What many fail to realize is that these deductions aren't guaranteed to stay. Every year, they are scheduled to expire in January foll...
What's New for 2011 Tax Year
The most predictable element of taxation law is its ability to change. In fact, tax law can change multiple times in a single year. This keeps tax professionals in steady work and the rest of us sufficiently perplexed.To make things a little simpler for the average taxpayer, however, the IRS has released a list of the most important and relevant ...
Expat Taxes in 2012 - What Is New
1) Recent Requirements for Foreign Investment Account Reporting (FATCA) Under the guidelines of the new Foreign Account Tax Compliance Act (knows as FATCA), certain U.S. taxpayers will be required to file Form 8938 (Statement of Specified Foreign Assets) along with their standard tax forms. If this form is required and not submitted, ...