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Articles About
Dateline: Istanbul, Turkey To say that the US tax code is complicated would be an understatement. There are forms for every possible situation, income source, and individual. There are even tax forms and filing requirements for individuals who have never set foot...
Dateline: Tbilisi, Georgia Just the other day, we discussed the new requirements for IRS Form 5472 – an informational form for foreign-owned US LLCs. Today, we’re going to take on an equally-complicated form just one number different from 5472: Form 5471. Whereas Form...
Dateline: Merida, Mexico The coronavirus pandemic has limited travel in many areas of the world and by doing so has changed the plans of many expats. If your global tax plan was impacted by COVID-19 in 2020, you may still qualify for tax benefits such as the 2020...
Dateline: Bogota, Colombia Just the other day, I wrote about why I stopped following politics rather than stay and fight against a system that I did not agree with. Today, in light of Joe Biden’s inauguration, let me just further cement why entrepreneurs and investors...
Dateline: Kuala Lumpur, Malaysia Governments around the world have increasingly been imposing restrictions on both citizenship and obtaining an actual passport to travel on. From Canada’s creation of “second class citizens” to President Trump’s denaturalization of US...
As an expat or U.S. taxpayer who owns a foreign business or an interest in a foreign business (corporation, partnership or LLC), there are a number of forms that you must complete and file with your standard 1040F income tax return. These forms are typical...
As readers of this site know, the United States taxes its citizens (including expats who live and work abroad) and legal permanent residents (LPRs) on their worldwide income. No matter where in the world your income is derived, the US government wants its piece, and...
You’ve probably heard the expression that the only two things certain in life are Death and Taxes. The United States’ Internal Revenue Service (the IRS) works very hard at making the second item in that short list true, especially for expats and US foreign...
According to the Department of Homeland Security, there were 1.1 million new “Lawful Permanent Residents (LPRs) - known as Green Card Holders - admitted to the US in 2017. This coveted document is what you need to be a legal resident of the United States. While that...
Dateline: Kuala Lumpur, Malaysia Last year, after renouncing my US citizenship, I prepared my final FBAR form. Going forward, I'm pretty relieved that I'll never need to report my foreign bank accounts to the IRS again. It's a frustrating process - especially since...