2018 | Phinch - US Tax Returns in the UK

Coronavirus and US Taxes: What US Expats need to know.

David Merrifield — Wed, 01 Apr 2020 09:24:03 +0000

The US government has made several announcements recently regarding measures to help Americans suffering financially in this uncertain time of depressed economic activity. These announcements affect Americans living overseas as well as those living in the states. These measures could make a significant difference to US expats struggling financially due to the Coronavirus outbreak.

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US TAX LATEST UPDATE. Tax Filing Deadline also now EXTENDED

David Merrifield — Tue, 24 Mar 2020 11:50:55 +0000

Following the previous announcement on 18th March that the IRS is extending the deadline for payment of US Taxes to 15th July, 2020, the extension has now been applied to the tax return filing date too. They announced that they are moving Tax Day from April 15th to July 15th. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.

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The US Tax filing deadline of 15th June for US Expats remains unchanged.

David Merrifield — Fri, 20 Mar 2020 10:07:48 +0000

On 18th March, the IRS announced an extension of the deadline for payment of US Taxes to 15th July 2020. However, the extension only applies to the payment of US Tax, the deadline for filing tax returns remains 15th April in the USA, and 15th June for US Citizens residing overseas. The IRS also reminded those subject to the 15th April deadline that they can request a 6 month extension to their…

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US Tax: Stock Compensation Plans

David Merrifield — Fri, 06 Mar 2020 11:18:43 +0000

If you are one of the rising number of employees receiving some form of stock compensation through your job, you know how confusing it can be to understand how each type works and the varying tax considerations you need to be aware of. Here’s a quick description of the most common plans. Stock Options Having a stock option gives you the right to purchase a certain number of shares of…

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US Tax: The Augusta Rule – How to Receive Tax-Free Income

David Merrifield — Tue, 25 Feb 2020 11:02:12 +0000

What is the Augusta Rule? The Augusta Rule, known to the IRS as Section 280A, allows homeowners to rent out their home for up to 14 days per year without needing to report the rental income on their individual tax return. Originally created to protect residents of Augusta, Georgia who would rent out their homes to attendees of the annual Masters golf tournament…

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Protect Yourself from US Tax Scams

David Merrifield — Wed, 19 Feb 2020 11:15:13 +0000

There are many tax scams out there with the purpose of stealing your identity, stealing your money, or filing fraudulent tax returns using your private information. Tax scammers work year-round, not just during tax season and target virtually everyone. Stay alert to the ways that criminals pose as the IRS to trick you out of your money or personal information.

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US Expat Tax deadlines 2020

David Merrifield — Wed, 15 Jan 2020 10:45:45 +0000

The 3 most important tax dates for US expats in 2020 are the same as in 2019. This means that expats that owe any US tax for 2019 must pay by April 15th 2020. All expats receive an automatic extension until June 15th to file their federal return. Expats who need more time can apply for a further extension until October 15th by filing Form 4868 online. The FinCEN foreign account (FBAR)…

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EU joins fight against US tax law affecting ‘accidental Americans’.

David Merrifield — Mon, 16 Dec 2019 11:23:07 +0000

The EU has joined the fight against a US tax law that has put tens of thousands of British citizens at risk of having their bank accounts frozen. In a letter to the US Treasury secretary, Steve Mnuchin, the Council of the EU – the bloc’s main decision-making body – called on the US to clarify rules affecting so-called “accidental Americans”, who left the US when they were just months or years…

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