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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 ...

Who Are the Big (Tax) Winners Ahead of the 2018 Filing Year?

US Government wins The majority of individuals filing US tax returns will pay more tax after the Tax Reform. The tax increase will affect US citizens, green card holders, as well as non-resident aliens with income from US sources. However, certain categories...

Extra, Extra, Time to Renew Your ITIN!

Is your ITIN set to expire? 9XX-73-NNNN or 9XX-75-NNNN - Does your ITIN look like this? It may be expiring on Dec 31 2018 . All ...

OVDP Ending - Streamlined Procedure Still Ideal Amnesty Program

OVDP Ending - non-event for most expats The famed OVDP program is nearing its end on Sep 28, 2018. We at TFX have not been fans of OVDP because of the draconian penalties attached, as well as the high compliance fees (read: lawyer fees...

Executive Order on Retirement Savings a Win-Win

On Fri Aug 31, 2018, President Trump signed an executive order to review the Retirement Enhancement and Savings act of 2018 (RESA). The bill, originally proposed in 2016, was introduced to the Senate in March 2018. The aim of the Act, re...

IRS Response to State Run Charitable Funds & Tax Credits

New York and other states try creative accounting The cap on state and local tax deductions was one of the more controversial provisions of the tax reform.  New York lawmakers have passed a proposal to let state residents skirt the new $10,000 federal cap. Under the proposal, New York taxpayers will be able to ma...