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Tax Avoidance vs. Tax Evasion: What’s the Difference?
…even higher audit risk. Examples of Tax Avoidance There are lawful ways to reduce your tax, and here are some of them: 1. Tax deduction Reducing the amount of your…
Here’s How You Should File Your Taxes as an Expat Freelancer
Unlike the rat race in a 9-to-5 job, freelancing touts the work-life balance that digital nomads aspire for. Since you have more freedom in project or client selection, you also…
4 Options for Delinquent FBAR Submission for Expats
…other countries to securely transmit reports on U.S. persons’ foreign financial accounts to the IRS in compliance with the Foreign Account Tax Compliance Act (FATCA) or intergovernmental agreements (IGAs). As…
Helpful Streamlined Filing Compliance Procedures That Will Make You Prepared
…a low compliance risk. While the IRS will review all submissions through the streamlined filing compliance procedures, the intensity of the review will vary according to the level of compliance…
Here Is What Happens When You Make a Tax Filing Error and How to Resolve
…Interest Income Form 1099-NEC Nonemployee Compensation Form 1099-G Certain Government Payments, like unemployment compensation or state tax refund 4. File an amended return If you think you committed a significant…
Does Your Credit Score Affect Your Taxes? 5 Important Things You Need to Know
…reduce, pay off, or eliminate the deficit. 2. You can use your credit card to pay your tax bill If you prefer an alternative payment option other than the commonly…
Will the IRS take my refund for my student loan in 2024?
…September 2024 can ensure you receive your full tax refund and avoid future complications. If you need help with resolving your tax problems, call Tax Samaritan for a free 15-minute,…
A Primer on How Foreign Companies Pay U.S. Taxes
…(CFCs) are foreign corporations where more than half of the shareholders are U.S. persons with at least 10% company ownership. Foreign companies must comply with local and state tax laws…
Filing Form 3520: How to Report Foreign Gift Tax
…best interest to comply with IRS regulations rather than risk getting a penalty. You must make the extra effort to file your forms correctly, completely, and on time. If not,…
Expat Tax In Singapore – Ultimate Tips You Need To Know
…of income can vary greatly from Singapore and the U.S. For example, certain benefits are tax free in Singapore. But, in the U.S. these benefits are likely to be benefits…