This IRS webinar specifies the U.S. income tax obligations of U.S. citizens and residents abroad; lists the requirements for claiming the foreign earned income exclusion; and summarizes the U.S. employment tax obligations of U.S. citizens and residents abroad. This is a topic that can cause a lot of confusion among taxpayers, especially among those living or [...]
This IRS webinar explains the impact of residency status on U.S. taxation. It differentiates residency status under U.S. immigration law versus U.S. tax law, and determines an individual’s residency status for U.S. tax purposes. It also describes the special tax rules that apply to dual-status individuals. Make sure you're up-to-date on this complicated aspect of tax [...]
This article was published by the IRS. Although hurricane season is underway, disasters can happen anywhere and anytime. IRS.gov has information disaster survivors may need, including information about disaster-related filing extensions and tax relief. IRS.gov webpages These IRS.gov webpages have tax-related disaster relief information: IRS news from around the nation: News about disaster relief and tax [...]
We wanted to update you on the provisions of the new tax bill that was signed into law on July 4 (the One Big Beautiful Bill Act). We recommend reviewing your current tax strategy in light of these changes. We are available to discuss how these provisions may impact your personal or business tax situation, and [...]
This article was published by the IRS. The SECURE 2.0 Act makes it easier for qualified individuals impacted by a federally declared major disaster to access their retirement savings. Eligibility A taxpayer may be eligible for relief that provides for expanded access to their retirement funds if their principal residence was in a major disaster area [...]
