Mel Whitney
Articles
FBAR fines explained: Failure to file, violations, and penalty mitigation options
The penalty for failing to report your foreign bank accounts in 2026 could cost more than the accounts themselves. Willful FBAR violation penalties reach up to the greater of $165,353 or 50% of the account balance. FinCEN's latest inflation adjustment and tighter enforcement, along with new court rulings, have made FBAR compliance r...
Form 1040-NR: A comprehensive guide for nonresident aliens
If you're earning income in the US but aren't a tax resident, you'll need to deal with Form 1040-NR. The form can feel like a maze of regulations and unfamiliar terms, but understanding it is necessary for staying compliant. This guide breaks down how Form 1040-NR works, so you can handle your tax obligations accurately and ...
How to Use Head of Household Status to File Your Taxes
The head of household filing status is one that few people understand. But it is important to understand all of your filing options to minimize the taxes you owe. If you meet the criteria to qualify, a tax return for head of household can result in lower taxes than single status. This article will help you to understand how to qualify for h...
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,...
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...