Communication from the IRS


As the year draws to a close, U.S. expats face a unique set of financial and tax considerations that domestic taxpayers often never encounter. Navigating worldwide income reporting, foreign account disclosures, treaty benefits, and changing country-specific tax rules can be overwhelming — but taking a few smart steps before December 31 can dramatically reduce your…
If you earn income abroad or hold foreign accounts, currency fluctuations can have a big impact on your U.S. tax return. Even if your salary stays the same in euros, pounds, or yen, the value in U.S. dollars can change month to month—and that can affect how much tax you owe. How Exchange Rates Affect…
Signed into law on March 18, 2010 the HIRE ACT, which is due to take effect January 1, 2013, Americans living abroad will face more financial scrutiny than ever before. One subsection of the act includes provisions that require foreign financial institutions, investment funds, trusts, family offices and other types of investment vehicles to report…
Presidents’ Day has been widely accepted as the unofficial holiday name for many generations, although, it was originally called Washington’s Birthday and is still in some states. Congress passed the “Uniform Monday Holiday Act” on June 28th, 1968. This law changed annual observances of some holidays to Mondays, partially to provide federal employees with three-day…
You may find yourself uncertain as to what to look for in a tax preparer. Is it necessary? What is the cost? How can I be confident in their work? We understand the uncertainty, and we are here to help. Expatriate Tax Services works with individuals and businesses and can assist with estates and trusts….
In the past, the U.S. has lost on average 1000 citizens per year, but 2020 is on track to be the year with the highest number of Americans who relinquish their citizenship. Almost 6000 Americans have already renounced their citizenship this year. The leading cause is the pandemic, as people question their connection with the…