Cross-border tax issues, expat filing rules, and international tax policy — because taxes don’t stop at the U.S. border.
Many of my husband’s clients are likely breathing a sigh of relief this morning. He represents a number of German corporations who pay tax rates which are much higher than their European cousins – and generally much higher than companies in the United States. In order to compete in an increasingly global market, Germany has…
My husband and beer snob/critic/drinker believes, like many of his kind that some things are sacred. You don’t mess with a good beer. Unfortunately, this is at odds with the Australian Brewer’s Excise Tax which taxes a brewery based on the alcohol content of its beer. Generally speaking, the higher the alcohol content in a…
At least according to one of my colleagues across the pond. You can read the reaction to my post about being middle class in America at Tax the Fish.
The U.S. Supreme Court issued a ruling last week that made some New Yorkers very happy… And could have serious worldwide tax implications. The Supreme Court ruled 7–2 that American courts may hear matters involving foreign governments and property taxes. The ruling now clears the way for New York City to collect the so-called “pillow…
No doubt Imelda Marcos is sleeping peacefully tonight, dreaming of Prada and Fendi shoes… A Philippine court has acquitted her on five counts of tax evasion filed 16 years ago. Marcos allegedly failed to file a tax return and to pay $730 US in income taxes for 1985. But more seriously, she was accused of…
The IRS is seeking comments on several revisions to the federal form 1120-F, U.S. Income Tax Return of a Foreign Corporation. Included in the revisions is a new schedule M-3 which is required filing for taxpayers with $10 million or more in total reportable assets. Schedule M-1 (Reconciliation of Income (Loss) per Books with Income…
Taxpayer asks: I just got married to my beautiful wife who happens to be Australian. I’m a graduate student in San Diego and she hasn’t come to live with me yet. My wedding was on December 27th so I’m wondering if it is somehow illegal for me to file my taxes as unmarried. She has never made…
It’s not just Switzerland attracting celebs looking to save money on taxes… The Netherlands (which we at the office jokingly refer to as the “Delaware of the EU” – tax humor, I know, not for everyone) is winning over its share of famous folks, too. The Rolling Stones and U2 have been publicly identified for using…
US citizens or residents living and working abroad finally have some direction for purposes of filing individual taxes for 2007. The Tax Increase Prevention and Reconciliation Act of 2005 increased the maximum amount of foreign earned income that may be excluded from gross income to $82,400. The law also limited the amount of housing costs…
Sooo… Elizabeth Taylor reportedly tried to do it. Ditto Madonna and, if you believe the rumors, the rock group U2. Yeah, you know what I’m talking about: moving to avoid taxes. It’s not just the US with complaints about taxation. Many countries in the EU routinely complain about their high rates of taxation, among the…