Mel Whitney
Articles
H1B visa taxes: Complete filing guide for nonimmigrant workers (2026)
H1B visa holders typically qualify as US resident aliens for tax purposes after passing the substantial presence test. That means H1B visa tax usually includes federal income tax at 10–37% progressive rates, plus Social Security at 6.2% and Medicare at 1.45%, along with state taxes. The filing deadline is April 15, 2026,...
FBAR penalties in 2026: Everything you need to know
The penalty for failing to report your foreign bank accounts in 2026 could cost more than the accounts themselves, with willful FBAR penalties reaching $165,353 or 50% of the account balance per violation. FinCEN’s latest inflation adjustment and tighter enforcement, along with new court rulings, have made FBAR compliance riskier ...
Foreign tax credit carryover: A comprehensive guide for US expats
The foreign tax credit carryover allows US taxpayers to apply unused foreign tax credits to offset future US tax liability. Excess credits can be carried forward 10 years or back 1 year. This prevents loss of valuable tax benefits when foreign taxe...
Foreign Earned Income Exclusion vs Foreign Tax Credit: Which one should you use?
If you're a US expat earning income abroad, you face a critical question: should you use the Foreign Tax Credit (FTC), the Foreign Earned Income Exclusion (FEIE), or both? The wrong choice can cost you thousands in unnecessary taxes or missed refund opportunities. Quick answer: The FTC usually work...
IRS Form 14653: A complete guide for US expats and offshore filers
For Americans living overseas, IRS Form 14653 is the required certification for the Streamlined Foreign Offshore Procedures that lets you catch up on missed filings without facing harsh penalties. The form includes a narrative state...
FBAR filing requirements and deadlines in 2026
Whether you live in the US or abroad, if you hold an account in a foreign bank — whether savings, pension, or investment — you may be required to comply with FBAR (Report of Foreign Bank and Financial Accounts) filing requirements. Many Americans are unaware that simply having a foreign bank account can trigger FBAR obligations. ...