Mel Whitney

When it comes to tax returns, sometimes the best offense is a good defense. That&...

The FBAR maximum account value is the highest balance in each foreign financial account at any point during the calendar year – not the December 31 closing balance – converted to USD using the Treasury Reporting Rates of Exchange for December 31 of that year. This 2026 FBAR article will cover a step–by–step metho...

FATCA penalties for individuals usually mean Form 8938 penalties, not a separate penalty schedule for every foreign account. If you were required to file Form 8...

Form 1065 is the annual informational return a partnership files with the IRS to report its total income, deductions, gains, losses, and credits. Schedule K-1 (Form 1065) is the partner-level stateme...

TN visa holders – Canadian and Mexican professionals admitted under USMCA – owe US federal income tax on US-source wages from the first day of US work. Tax residency, determined under the 183-day Substantial Presence Test in IRC § 7701(b), dictates the return: Form 1040 for resident aliens reporting worldwide income, or Form 1040...

The foreign housing exclusion and deduction are available to qualifying US citizens and resident aliens with a foreign tax home and foreign earned income. US citizens can qualify under either the bona fide residence test or t...