Are you a foreign individual or a foreign business from one of the many countries that the US has a tax treaty with (such as the UK, France, or Australia)? If so, then you may know that you can come to the US and [...]
Most people are unaware that the IRS tends to “bury” high-stakes questions in individual tax returns. Yet a different approach could benefit and protect taxpayers. Did you even notice an additional question on the 2019 US Individual Income Tax Return (Form 1040)? The IRS [...]
With the progression of COVID-19 in the US, the IRS and states have scrambled to provide relief to taxpayers. Over the past few weeks, each day has brought new developments. Most recently, the IRS has extended more deadlines and reversed stance on a deadline [...]
The IRS is hitting the road, targeting high-income earners who haven’t filed federal income tax returns or paid taxes for 2018 or previous years. The agency estimates that billions are lost in tax dollars from these non-filers. The goal is to collect and the [...]
The Qualified Opportunity Zones (QOZ) rules became law under the Tax Cuts and Jobs Act (TCJA) of 2017. These rules are designed to encourage investment and economic growth in specific low-income areas. But there are important things to understand about Qualified Opportunity Zones and [...]
If you pay taxes in both the US and France, you may be due significant refunds for French taxes paid! For years, a battle has been working its way through the US courts concerning two French taxes, the French Contribution Sociale Généralisée (CSG) and [...]
Great news for US taxpayers—Congress passed, and the President signed an expansion and strengthening of taxpayer rights (on July 1, 2019). The Taxpayer First Act (TFA), also known as H.R. 3151, represents three years of bi-partisan work. It contains numerous provisions and updates that [...]
A common misconception among taxpayers is that the new tax law, the Tax Cuts and Jobs Act of 2017 (TCJA), passed in December 2017, contains the necessary information to calculate your 2018 taxes. That would indeed make sense. In actuality, however, the TCJA made [...]
Tax accountants and tax software companies (e.g., TurboTax) have been waiting with bated breath for the IRS and state tax authorities to release guidance on the new tax law. Why? Because the Tax Cuts and Jobs Act of 2017 (TCJA), passed in December 2017, [...]
Last year, proponents of U.S. tax reform expressed their goal to enable taxpayers to file returns “on a postcard.” Of course, this was not to be taken literally. Filing a postcard tax return would be fraught with many issues, chief among them the security [...]
