by David Merrifield | News, US Tax Returns
At this point, most people have heard about relief measures the government has enacted in the wake of Covid-19, but there remains one opportunity to harvest that has had little discussion surrounding it—Section 139 Qualified Disaster Payments. Background ...
by David Merrifield | Federal Tax, US Tax Returns
The penalty free program for overseas Americans delinquent on their tax returns. The Streamlined Procedure is an IRS amnesty program that allows expats who are non-willfully behind with their US tax filing to catch up without facing any penalties. If you have not...
by David Merrifield | US Tax Returns
At the end of 2019, the IRS issued updated guidance on a new rental real estate safe harbour rule which allows certain rental real estate to be considered an “enterprise” eligible for a Section 199a deduction. What is Section 199a deduction? Section 199a gives...
by David Merrifield | News, US Tax Returns
If you can’t pay your taxes, don’t panic. Here’s what to do first: Make sure to file your tax return on time—failure to file is a much higher penalty than failure to pay. Pay as much as possible when you file your tax return, as every dollar you pay at tax time...
by David Merrifield | Federal Tax, News
At the end of 2019, the SECURE Act (Setting Every Community Up for Retirement Enhancement Act) was signed into law, modifying required minimum distribution (RMD) rules for inherited IRAs and retirement accounts. Under the SECURE Act, inherited IRAs and...
