Foreign pension plans in almost every situation are not treated the same as US pension plans. Often the employers contribution and earnings in the account are immediately taxable on your US tax return even though tax deferred in the foreign country of origin. There are some beneficial exceptions to these rules in the US tax treaties with Canada and the UK.. In most situations you may also have to report the amounts in your foreign pension plan on Form 114 (foreign financial account report) which is filed separately from your US tax return and is due on 6/30 following the end of each calendar year. READ MORE HERE
US IRS rules, regulations and laws, for US Citizens, Americans, green card holders, and nonresidents living abroad or moving to the US or out of the US.... valuable information on IRS rules concerning U.S. expatriates and their tax returns, and tax planning.... by an experienced International Tax Attorney
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January 23, 2015
January 19, 2015
TaxPayer Advocate Slams the IRS Offshore Programs as Unfair
The IRS Offshore Voluntary Disclosure Program has unfairly penalized many ordinary citizens and often failed to catch the real offshore cheaters. It is unfair to most expats and those who are ignorant of the IRS rules ..... primarily due to the IRS's failure to property publish those rules and keep the public informed. Read more in the Forbes article below;
http://www.forbes.com/sites/robertwood/2015/01/14/national-taxpayer-advocate-slams-irs-offshore-programs-fbar-penalties-demands-change/
http://www.forbes.com/sites/robertwood/2015/01/14/national-taxpayer-advocate-slams-irs-offshore-programs-fbar-penalties-demands-change/
When a US Expat is Married to a Nonresident Spouse - Many Planning Opportunities May be Available
If you are married to a nonresident spouse who lives outside of the US, there are potential tax problems, but also many possible planning opportunities that should not be ignored. You do not have to file a US tax return with your nonresident spouse or report their income. You do not have to report their foreign assets. Your nonresident spouse can give you unlimited gifts so long as you file the proper form with the IRS to report those gifts (which will avoid any potential penalties). There are more strategies available. Email us at ddnelson@gmail.com or visit our website at www.TaxMeLess.com
Read more in the Wall Stree Journal Article Below:
http://blogs.wsj.com/expat/2015/01/12/ask-an-expert-tax-tips-for-u-s-expats-with-non-resident-alien-spouses/
Read more in the Wall Stree Journal Article Below:
http://blogs.wsj.com/expat/2015/01/12/ask-an-expert-tax-tips-for-u-s-expats-with-non-resident-alien-spouses/
Citizen Renunciation Fee to US Government Up 422%
Read More in Forbe Magazine: http://www.forbes.com/sites/robertwood/2015/01/13/citizenship-renunciation-fee-up-422-with-no-return-just-ask-bitcoin-jesus/
Let us know if you need help with your renunciation of US Citizenship or Long Term Green Card Holder Surrender (8 years). We can help you comply with the Tax Laws and help you plan to avoid the possible tax on appreciated property. ddnelson@gmail.com
Let us know if you need help with your renunciation of US Citizenship or Long Term Green Card Holder Surrender (8 years). We can help you comply with the Tax Laws and help you plan to avoid the possible tax on appreciated property. ddnelson@gmail.com
January 16, 2015
Don't Expect IRS Help in 2015
With a 17% reduction in budget and 12,000 reduction in employees the IRS will not be there to help. We will be. Go to: www.Taxmeless.com or email ustax@hotmail.com.com
Read more in time magazine: http://time.com/money/3667380/irs-tax-questions-olson-report/
January 14, 2015
China Taxes World Wide Income The Same as US .. IRS
Read more in Forbes Article. China Plans to start enforcing law in 2015.
http://www.forbes.com/sites/taxanalysts/2015/01/13/chinas-fiscal-roadmap-tax-like-america/
January 10, 2015
College Savings Plans for Expats & Chidren - IRC 529 Plan
Great tax saving and planning Tool. Read More
http://blogs.wsj.com/expat/2015/01/05/ask-an-expert-tips-for-u-s-expats-using-529-college-savings-plans/
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