Advance Payments of Employer Credits Due to COVID-19
In conjunction with the CARES Act, the IRS has released form 7200, Advance Payment of Employer Credits Due to COVID-19, which allows eligible businesses to claim an advance of refundable tax credits used to help cover the cost of keeping employees on payroll, even if...
US TAX: Options for the Business Owner During COVID-19 Pandemic
Many businesses are expected to see significant revenue losses due to COVID-19 and many individuals and business owners are overwhelmed with the choices of what they should do. In addition to considering Disaster Loan Assistance (EIDL) through the SBA and the...
Our Guide to US Expat Taxes. Updated May 2020
For Americans living abroad, the rules for US taxes can be overwhelming and confusing and if you fail to file correctly, it can result in significant penalties or even legal repercussions. Nonetheless, when strategically prepared and filed correctly, there are huge...
US TAX LATEST UPDATE: IRS Launches Non-Filer Tool for Coronavirus Rebate
This new tool will help overseas Americans who wouldn’t normally file a tax return to register for Economic Impact Payments outlined by the CARES Act The IRS has announced that it has developed a free online tool which will allow Americans who don't usually file tax...
US Tax: Do you know about the SECURE Act that was signed into law at the end of 2019?
At the end of 2019, the SECURE Act (Setting Every Community Up for Retirement Enhancement Act) was signed into law, modifying RMD (required minimum distribution) rules for inherited IRAs and retirement accounts. Under the SECURE Act, inherited IRAs and...
Coronavirus and US Taxes: What US Expats need to know.
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....
US TAX LATEST UPDATE. Tax Filing Deadline also now EXTENDED
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...
The US Tax filing deadline of 15th June for US Expats remains unchanged.
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...
US Tax: Stock Compensation Plans
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...
US Tax: The Augusta Rule – How to Receive Tax-Free Income
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...