Communication from the IRS


The FBAR…No News is Good News! If you have more than $10,000 USD in foreign banks, you must file a Foreign Bank Account Report (FBAR), Form number TD F 90-22.1, reporting the financial institution(s) name, address, account number and highest balance of the year. This informational tax form is filed with the United States Department…
As we enjoy our freedoms, let’s remember those who made it possible.
How to File Your Taxes Correctly and Avoid Costly Errors Filing your taxes correctly is essential to avoiding penalties, delays, and unnecessary stress. While many taxpayers believe filing is simply about submitting forms on time, accuracy and proper reporting matter just as much as meeting deadlines. If you are unsure where to begin, working with…
Concern and confusion around stimulus check eligibility have been a major topic for U.S. expats. If you are a U.S. citizen or resident with a Social Security number and are within the income brackets, and are not claimed as a dependent by someone else, you qualify for the stimulus checks. All first and second Economic Impact…
There are several ways that you can save money when filing your taxes depending on your individual circumstances. These include the Foreign Earned Income Exclusion, Foreign Tax Credit, and Foreign Housing Exclusion. The FEIE reduces your income by paying housing expenses. If you qualify and file on time, you can save big on your taxes. Most…
As an expat, it is essential to understand the concept of double taxation and take necessary measures to prevent it. Double taxation is a situation where a taxpayer pays taxes on the same income in two different countries. This can happen when an expat earns income in their country of residence and is also subject…