Cross-border tax issues, expat filing rules, and international tax policy — because taxes don’t stop at the U.S. border.
Earlier this month, the Internal Revenue Service (IRS) issued a reminder to taxpayers with significant tax debts that their passports could be at risk. Now, IRS Commissioner Charles Rettig has granted a reprieve for some taxpayers. A memo (TAS-13-0819-0014) from Acting National Taxpayer Advocate Bridget Roberts has advised that there is “a temporary change” related to the…
The Internal Revenue Service (IRS) is reminding taxpayers with an expiring Individual Taxpayer Identification Number (ITIN) to submit renewal applications. Failing to renew an ITIN by the end of the year may cause refund and processing delays in 2020. An ITIN is assigned to a taxpayer who is not eligible to obtain a Social Security Number (SSN)….
Technology has changed the world. It’s crazy to me that these days, I could sit on an airplane and send an email to my brother under the ocean (he’s a submariner). Or that I can, with the click of a mouse, have almost anything delivered to my house from trees to laundry detergent to a…
You may think you know what a taxpayer with foreign assets looks like. It’s easy to paint a picture of the super-rich jetting off to the Caymans, but that’s more Hollywood-driven than real life. Taxpayers with control over foreign assets come in all shapes and sizes. It’s the executive who works in the U.S. on…
If you don’t think what you post on social media matters, think again. France has announced that it will begin searching social media accounts next year in an effort to crackdown on tax fraud. Gerald Darmanin, France’s Minister of Action and Public Accounts, made the announcement as part of an interview he gave to the…
The Internal Revenue Service (IRS) has issued a reminder to taxpayers with an expiring Individual Taxpayer Identification Number (ITIN) to submit their renewal applications. Failing to renew an ITIN by the end of the year will cause refund and processing delays in 2019. An Individual Taxpayer Identification Number (ITIN) is assigned to a taxpayer who is not…
The clock continues to tick down for taxpayers hoping to take advantage of the Offshore Voluntary Disclosure Program (OVDP). The Internal Revenue Service (IRS) will close the program on September 28: that gives taxpayers just a few more weeks to apply. The IRS launched the OVDP in 2009 to encourage compliance with foreign asset reporting. Structured as…
The Internal Revenue Service has announced that combat-zone contract workers may now qualify for the foreign earned income exclusion. Typically, if you are a U.S. citizen or a U.S. resident alien, you’re taxed on your worldwide income. However, certain taxpayers can exclude some or all foreign wages from tax under the foreign earned income exclusion. The exclusion…
Exactly how big a bite does the tax man take from players? Depending on the country, top tax rates can range from 13% to over 50%. Here’s a glimpse at the top tax rates for each of the countries in the Round of 16.
Earlier this year, the Uganda Parliament approved a tax on access to over the top (OTT) services – a tax on the use of social media. Critics argue that the tax is an unreasonable attempt to squelch online criticism of the government. Here’s what they’re doing in response.