Editorial team of TFX
Articles
More Foreign Banks Working with US Government to Disclose American Accounts
Here we go again with your favorite tax topic: FATCA and the Streamlined Procedure Okay, maybe not your favorite topic, but an important one, nonetheless. There are some important updates about the OVDP that could affect you ...
Who Is Required to File the New BE-10 Report?
There is a new filing requirement for US Persons who own or have ownership in foreign entities. The BE-10 started out as a survey and is now mandatory for US Persons. If you are a US Expat, you may or may not have heard about the most recent reporting requirement in the form of the ...
US Expat Taxes - What’s New in 2015
1. The IRS will begin accepting tax returns filed electronically on January 20, 2015. Paper tax returns will begin processing at the same time. 2. The Foreign Earned Income Exclusion ...
How Are Same-Sex Couples’ Taxes Affected by New Laws?
In June, 2013, the Supreme Court overturned the DOMA (Defense of Marriage Act) and extended equal rights to same-sex marriages. The Supreme Court abolished the DOMA on June 26, 2013, and the same healthcare and tax rights that opposite-sex marriages enjoy were extended to same-sex marriages. This ruling affect...
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...