Ines Zemelman

Schedule 1 (Form 1040) is a supplemental IRS form that US taxpayers attach to Form 1040 to report additional income not listed on the main return and to claim above-the-line deductions that reduce Adjusted Gross Income (AGI). The IRS introduced Schedule 1 in its current two-part format in 2018, when ...

An ITIN expires after 3 consecutive years of non-use on a US federal tax return, or earlier if its middle digits fall in the ranges the IRS phased out between 2016 and 2020. ITIN renewal requires Form W-7 filed on paper, with IRS processing of about 7 ...

US contractors abroad still owe US tax on worldwide income. The core math: report net business income on Form 1040, calculate self-employment tax on Schedule SE. The 15.3% rate applies to 92.35% of net earnings, with the Social Security portion capped at the annual wage base. FEIE and the Foreign Tax Credit are separate ways to reduce f...

The taxation of foreign dividends can be complex for US taxpayers, especially expats who invest globally. Tax obligations and withholding requirements vary, but proper reporting helps you avoid double taxation and stay c...

Passive foreign investment companies (PFICs) are foreign corporations subject to complex US tax rules that can lead to high tax rates, interest charges, and strict reporting obligations. US investors holding shares in fo...

A US tax treaty is a bilateral agreement between the US and a foreign country that reduces or eliminates double taxation on cross-border income. The IRS currently lists 68 treaty entries on Table 3, which was last updated...