Category: FATCA for Expats
5 Simple Steps to Fix Rejected Tax Returns
Apr 29, 2024
You spent days, perhaps even months, wrestling with receipts, forms, and numbers to prepare your tax return. After countless hours of hard work, you finally completed it. You breathed a sigh of relief…
7 Smart Tax-Saving Strategies for High-Income Earners
Apr 04, 2024
Earning a high income has advantages, but it can also put you in a higher tax bracket. This means the government takes more of the money you worked hard for. Thus, it is…
Will the IRS take my refund for my student loan in 2024?
Mar 19, 2024
It’s tax season again, and many ask, “Will the IRS take my refund for my student loan in 2024?” Tax refunds can be a source of financial relief for many people. Some use…
Tax Evasion vs Tax Avoidance: Everything You Need To Know
Mar 19, 2024
Taxpayers often get confused with the terms tax avoidance and tax evasion. While they both involve reducing your tax burden, they have different meanings and consequences. Not understanding the difference and choosing the…
Ignorance: A Flimsy Excuse for Not Filing FBARS
Feb 07, 2024
Here’s one of the most frequent questions people ask me about Foreign Bank Account Reports (FBARs). ‘‘I recently learned about the need to file an FBAR for overseas accounts with over $10,000. I…
Unemployed? 5 Things You Need To Know Before Cashing Out 401(K) Early
Feb 02, 2024
Here’s one of the most frequently asked questions I receive about 401(K) withdrawal. ”I recently lost my job, and unfortunately, I don’t have an emergency fund or other financial resources to cover my…
Military Spouse Tax Filing Challenges: Answers to FAQs
Feb 02, 2024
The unique demands of military jobs pose challenges for military spouses, especially with the frequent relocations they face. These challenges include adapting to new homes, finding employment, and, of course, managing taxes during…
IRS Form 944: How to File When Your Business Owes Less
Jan 25, 2024
When it comes to running a business, staying on top of your tax responsibilities is crucial. If you’re a small-scale employer, chances are you might be familiar with IRS Form 944, also known…
IRS Form 1040-X: How To Correct Mistakes on Previously Filed Return
Jan 12, 2024
Tax filing can be a perplexing time for many Americans, and sometimes, despite your best efforts, mistakes happen. If you’ve filed your taxes and then realized you made a mistake, don’t fear. The…
The Peril of Ignoring Estimated Quarterly Tax Payments: How to Avoid
Jan 04, 2024
If you’re a freelancer or small business owner, the danger of neglecting estimated quarterly tax payments looms large over your financial stability. When you’re caught up in meetings, deadlines, and dealing with clients,…