For years, the IRS has complained about “tax havens” like Switzerland whose secrecy laws have enabled wealthy US citizens to hide assets offshore and (illegally) shelter their foreign income from US taxation. Since 2009, the US has made great strides in chipping away at [...]
As of mid-2021, if you called the IRS, your chances of getting through to a live person were only about 7%. The IRS has not been able to adequately staff its phone lines or keep up with call volume for several reasons: IRS funding [...]
If you live overseas, travel regularly, or split your time between different locations, you may have had the unpleasant experience of receiving an IRS notice after the payment due date listed in the notice. Or perhaps, during the COVID-19 pandemic, you were one of [...]
On February 20, 2021, President Biden declared a “major disaster” for Texas due to the severe winter storms that lasted from February 11 through February 20. The storm caused significant issues, such as loss of power and water, home damage, water pipe damage, and [...]
Will your taxes go up or down under the Biden Tax Plan? Many of you are asking this question. In a nutshell, the answer is that if you earn $400,000 or less annually, your taxes are likely to go down slightly. If you earn [...]
If you are having trouble paying your taxes, it often helps to take a proactive approach and agree on a payment plan with the IRS. As we all know, tax problems do not resolve themselves and will not get better with time. The IRS [...]
Last week, the IRS announced that it will increase audits and scrutiny on nonresidents with US rental properties. This move is part of the IRS’s campaign, launched on October 5, 2020, to improve the timeliness and accuracy of returns filed by nonresidents (including G-4 [...]
If you are a G-4 visa holder or other nonresident, selling your home in the US this year has been tough. The housing market hasn’t been the problem. In fact, home sales have been booming in many areas. Instead, the problem has been getting [...]
The IRS’s backlog of mail has reached historic proportions. Whereas under “normal conditions,” the IRS advises taxpayers that it generally takes 6 to 12 weeks to process any tax returns and correspondence mailed to the agency, 2020 has been far from normal. How big [...]
US Supreme Court Justice Ruth Bader Ginsburg passed away on Friday, September 18, 2020. Ginsburg’s passing has ramifications upon multiple fronts based on both her iconic presence and long-term judicial standing. With Ginsberg’s death, one of the many issues now in question is the [...]
