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August 9, 2008

Watch Out for Foreign Mutual Fund Investments

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We have learned that a lot of US expats are being sold foreign mutual funds or shares in foreign corporations that invest solely in securiti...
June 15, 2008

TOUGH NEW EXPATRIATION TAX LAW ABOUT TO BECOME LAW

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Hidden in the Soldiers Relief Act is new tax law which is about to be signed by the President and has been passed by Congress. The law wi...
May 30, 2008

Foreign Bank and Financial Account Information Report Deadline is 6/30, and IRS is Enforcing Penalties

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The IRS has announced that it intends to enforce penalties for FBAR noncompliance – as far back as 6 years. It might be possible to negotia...
January 23, 2008

Making False Statements to IRS is a Crime

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Former NFL player Dana Stubblefield pleaded guilty to lying to an IRS agent. AP report dated Jan. 18, 2008. Under a plea agreement he may sp...
July 18, 2007

ANTARTIC CONTINENT DOES NOT QUALIFY AS FOREIGN COUNTRY FOR EXPATRIATE FOREIGN EARNED INCOME EXCLUSION

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The U.S. Tax Court just held that a married couple and 150 similarly situationed taxpayers could not exclude form their income amounts earne...
February 26, 2007

SEAMEN ON YACHT QUALIFY FOR FOREIGN EARNED INCOME EXCLUSION

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Myron and Thelma Struck, TC Memo 2007-42 The Tax Court has concluded that taxpayers employed on a yacht that was operated primarily in for...
February 12, 2007

Proof of Mailing - Leaving with Deskclerk Not Sufficient

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A recent Tax Court decision holds that leaving a Fed Express envelope with a hotel desk clerk with the understanding that the package would ...
November 22, 2006

2006 IRS AUDIT STATISTICS - ARE YOU IN DANGER?

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As reported in a statement issued by IRS Commissioner Mark W. Everson, IRS has continued its strong audit enforcement efforts for Fiscal Yea...
November 17, 2006

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Don D. Nelson, is one of the world's acknowledged U.S. Expatriate Tax Experts with over 31 years experience in providing services to cli...
October 2, 2006

Taxation of Civilian Workers in Combat Zones

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Some confusion regarding taxation of civilian workers in combat zones [IRS Headliner Volume 178, 08/31/2006]: The IRS has become aware of s...
September 22, 2006

Guantanamo Bay Civilians Now Elgible for Foreign Earned Income Exclusion

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Notice 2006-84, 2006-41 IRB IRS has issued a notice which provides that the U.S. Naval Base at Guantanamo Bay is not located within a restri...
September 4, 2006

Terminating US Residency Permanently Requires Yet Another Form

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Past U.S. residents or residents are reminded that individuals who have expatriated or terminated their U.S. residency status must file Form...
August 30, 2006

Employer Provided Housing is Taxable to Expat Employees

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The taxpayers were liable for taxes on the value of the lodging provided by a government contractor. Hargrove et al. v. Commissioner, T.C. M...
March 8, 2006

Form 926 Required for Transfers to Foreign Corps.

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U.S. persons, domestic corporations and domestic estates or trusts who exchange or transfer property to a foreign corporation must file Form...
2 comments:
August 29, 2004

US Enterepreneurs Living Abroad May Need To File Special Forms

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If you live abroad and have your own business, you may need to file special forms with your tax return. If you own more than 10% of a forei...
1 comment:
June 26, 2004

Corporate Tax Equilization Policies for Executives Working Abroad

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Corporate tax equilization policies are not always fair to corporate executives working abroad. If you participate in such a program and sus...
June 11, 2004

1031 Tax Free Exchanges Outside of US

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1031 Tax Free Real Estate Exchanges are not allowed out of or into the US to or from a foreign country. Therefore, taxes must be paid if you...
1 comment:
June 10, 2004

Voting While Living Abroad in US Presidential Elections

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Even though you no longer have a residence in any US state, you can still vote in any US presidential election by following certain procedur...
1 comment:

Status of Forces Agreements May Cause Problems

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If you are living in a foreign country and do not have to pay income taxes in that country due to a status of forces agreement because you w...