Editorial team of TFX
Articles
Time to Renew ITIN
ITINs with middle digits 70, 71, 72 or 80 are set to expire at the end of 2017. Ie - example, 2NN-72-NNNN) More than 1 million taxpayers have expiring ...
UK Budget - Potential Changes for Non-Domiciled Taxpayers
UK Budget - potential changes for non-Domiciled Taxpayers Rumors are flying that the fall budget will place emphasis on reform of the Stamp Duty, and potentially tax relief for pensions as well. It seems that pension tax reform is always the subject of the rumor mill. This year, m...
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. This date change was m...
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...