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How they know if you cheat on your return
By Tina Orem - Market Watch Mailboxes are flooded with tax forms every year around this time, and many of them can be confusing, feel unnecessary or involve seemingly trivial amounts of money. But before succumbing to the urge to shove those pieces of paper into a...
Bases legales sorteo “55 aniversario” de US Tax Consultants en Facebook
US Tax Consultants, es una marca de New Media Lab S.L. con C.I.F. B85709384 con domicilio social Travesía de las Cañas, 2 - 28043 Madrid, organiza un Sorteo Promocional de ámbito nacional denominado “Sorteo 55 aniversario” (en adelante el “Sorteo Promocional”)...
NTK Seminar: American Club of Madrid Communication series ” Como hablar en público” por Alfredo Urdaci
Como parte del programa anual de seminarios del American Club of Madrid, tenemos este seminario como parte de la serie de Comunicacion que es imprescindible para todos los que nos hemos enfrentado alguna vez a hablar en público. Entrada libre, sólo hay que registrase....
IRS Scams: Dirty Dozen of Tax Return Fraud for 2020
Each year, the IRS releases the Dirty Dozen – a list of the largest tax scams they saw for that year’s taxes. The IRS scams list reads like a playbook from the past, with phishing, identity theft, and fake charities making the top 12. These common scams are increasing...
Tax season is coming, and it might be as chaotic as last year
By Laura Davison Capitol Hill Tax reporter, Bloomberg News. Filing taxes last year was a nightmare for taxpayers, their accountants and the Internal Revenue Service. This year might not be much better. The IRS is still working to issue guidance for the changes to the...
Reasons for people to file a 2019 U.S. Tax Return
While many people are required to file a tax return, it’s a good idea for everyone to determine if they should file. Some people with low income are not required to file, but will need to do so if they can get a tax refund. Here are five tips for taxpayers who are...
Filing Season for Individual Filers Opens Jan. 27th – New Gig Economy Tax Center – IRS Whistleblower
The IRS confirmed this week that the 2020 tax season will start for individual tax return filers on Monday, Jan. 27. The deadline to file 2019 tax returns and pay any tax owed is Wednesday, April 15; and for those living abroad the filling deadline will be June 15th....
ACM Business Luncheon on US Taxes: Form 8621 and Guilty Tax or the expats’ nightmare
US Taxes: Form 8621 and Guilty Tax or the expats' nightmare U.S. expats are already subject to significantly more onerous tax rules than U.S. citizens living in the U.S., among which the Passive Foreign Investment Company ("PFIC") is one of the most notorious. U.S....
Modelo 720, Modelo ETE and Modelo D-6: Statements of foreign assets or transactions.
Modelo 720 Report of asset abroad when exceeding of value €50,000. Please refer to complete information in this website //ustaxconsultants.es/services/modelo-720/ Modelo ETE The economic transactions and the balances of financial assets and liabilities abroad of...
Stop Treating American Expats Like Tax Cheats
By Andreas Kluth Nov 26, 2019 Bloomberg Opinion The U.S. is (almost) unique in the way it taxes citizens working abroad. Its system stinks. An estimated 9 million American citizens living outside the U.S. face a tax nightmare those at home can’t imagine and none...
IRS ANNOUNCES NEW PROCEDURES FOR SMALL TAXPAYERS THAT HAVE OR WILL RENOUNCE US CITIZENSHIP
By ACA September 9, 2019In a News Release dated September 6, 2019, the IRS announced it will give limited relief, in the form of forgiveness of US taxes and avoidance of penalties and interest, in highly circumscribed circumstances.This is for individuals who have not...
U.S. and U.K. Ease Data Collection Across Borders
By Thomas Zeno on October 7, 2019Saying it will accelerate complex investigations, the United States and the United Kingdom proposed an historic data exchange agreement. In future, each government will be able to obtain electronic data directly from technology...
Treasury curbs fines for the report of assets abroad after pressure from Brussels – Modelo 720
The Tax Administration in Spain went from 3,486 penalties to taxpayers for late declaration of the modelo 720 in 2015 to 0 so far in 2019: These are the formal 'automatic' sanctions for late statements, of 100 euros for undeclared data, with a minimum of 1,500 per...
US Senate finally unblocks the 2013 Tax Treaty with Spain.
Antonio Rodriguez. July 2019 (A continuación en español)The US Senate Financial Commission voted in late July in favor of unlocking a decisive amendment to the tax agreement between Spain and the US which updates the measures to avoid double taxation and prevent tax...
Expedited Process Can Reverse Tax Debt Passport Revocations
Some taxpayers with delinquent tax debts who have had their passport renewals blocked can use an expedited process to allow them to travel. As of May 3rd, more than 370,000 notifications certifying qualifying delinquent tax debts have been sent by the IRS to the US...
No hay más ciego que el que no quiere ver: Hacienda, y su modelo 720
Por José María Salcedo Benavente. 18 de junio de 2019Sabido es que no hay más ciego que el que no quiere ver, ni más sordo que el que no quiere oír. Pues bien, algo parecido le ocurre a Hacienda con su modelo 720, que desde el año 2012 obliga a los contribuyentes...
ACM Need to Know Seminar: PYMES(SL) vs Autonomos – Financial Implictions
June 20, 2019 7:00 PM – 9:00 PMUniversidad San Pablo CEU - Julián Romea, 23 (Fac. Económicas y Empresariales) 28003 MadridPYMES(SL) vs Autonomos. Legal forms and procedures to create a company in Spain. Costs. Fiscal implications in each case. Taxes to be paid and...
IRS Actively Targeting Taxpayers For Passport Denial/Revocation
The IRS is now actively in the process of issuing Notices CP508C to hundreds of thousands of U.S. taxpayers–placing all notified taxpayers' passports in serious jeopardy. Several news outlets this week report that the U.S. State Department confirms that it has already...
“ACM Need to Know Seminar” Inheritances and Last Will in Spain and the US
Last Will, Testament and Inheritances in Spain and the US.May 23rd, 2019. 19:00h at Universidad CEU San Pablo (Fac. Económicas y Empresariales) c/ Julian Romea, 23 – 28008 MadridFree entrance. Registration required: https://bit.ly/2QIzHAPPresenters: Alejandra Pastor...
Tax Returns for expatriates
All individuals who cease to be taxed as US persons file tax returns to signal that change in status to the IRS. Typically, this happens on a dual-status tax return: for part of the year you are a US person reporting your worldwide income, and for part of the year you...
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