Our blog

Who Needs to File the FinCEN Form 114 (FBAR)?

Who Needs to File the FinCEN Form 114 (FBAR)?

FBAR stands for “Foreign Bank Account Report”. Originally numbered as TDF 90-22.1, up to 2013 and was filed on paper, since then it is required to be filed online and its name changed to FinCEN Form 114.FinCEN Form 114 is required to be filed by all US citizen, Green...

“ACM Need to Know Seminar”: Investing as American Abroad

“ACM Need to Know Seminar”: Investing as American Abroad

Thu, February 21, 2019 7:00 PM – 9:00 PM  Universidad San Pablo CEU - Calle Julián Romea, 23 28003 Madrid  (Fac. Económicas y Empresariales)Investing as an American Abroad: What You Need to Know Now to Grow Your Savings and Avoid Conflicts with the IRS: Why you must...

Where is my refund from last year?

Where is my refund from last year?

Can Trump’s administration really send out tax refunds during a shutdown? It’s not clear. The Trump administration says tax refunds will go out. But some experts are skeptical. President Donald Trump’s administration said earlier this week that it will still send out...

Provision of Tax Cuts and Jobs Act in detail (1)

Provision of Tax Cuts and Jobs Act in detail (1)

1. New Individual and Capital Gains Tax Rates:The Act maintains the current seven individual tax brackets but generally reduces the applicable tax rates. A comparison of the individual tax brackets that would have been in effect for 2018 prior to passage of the Act...

IRS: No required to declare!

IRS: No required to declare!

Here's why some retirees no longer have to file a tax return Retirees whose only source of income is Social Security generally will not owe any federal taxes and therefore don't need to file a return with the IRS.Even some people with taxable sources of income end up...

Three Common Family Tax Mistakes

Three Common Family Tax Mistakes

When it comes to transactions between family members, the tax laws are frequently overlooked, if not outright trampled upon. The following are three commonly encountered situations and the tax ramifications associated with each. Renting to A Relative – When a...

All You Need to Know About the Tax Evasion Statute

All You Need to Know About the Tax Evasion Statute

As defined within the 26 United States Code section 7201 by the Internal Revenue Code, failure to report taxes accurately, failure to report taxes and failure to pay taxes are all forms of tax evasion. In order to establish a case of tax evasion against you the...

Everything You Need to Know About the New 2018 Tax Form.

Everything You Need to Know About the New 2018 Tax Form.

Failing to file will cost you more than failing to pay your taxes. You should to file your return on time, even if you do not owe anything to the IRS. The penalty for failing to file is significantly more than the penalty for failing to pay. The failure-to-file...

The Section 965 “transition tax” is unconstitutional

The Section 965 “transition tax” is unconstitutional

According to the paper published by the Yale Journal on Regulation Bulleting , Vol. 36, 2018 by SeanP McElroy, the mandatory "repatriation tax is unconstitutional. In late 2017, Congress passed the first major tax reform in over three decades. This Essay considers the...

The Section 965 ” Transition Tax” today

The Section 965 ” Transition Tax” today

Yesterday, October 22, American Citizens Abroad, Inc. presented oral testimony at the public hearing held by the IRS and Treasury Department, “Guidance Regarding the Transition Tax Under Section 965 and Related Provisions (Ref-104266-18)”. ACA has gone on record twice...

LAS PRESTACIONES POR MATERNIDAD ESTÁN EXENTAS DE TRIBUTAR POR IRPF

LAS PRESTACIONES POR MATERNIDAD ESTÁN EXENTAS DE TRIBUTAR POR IRPF

El Tribunal Supremo confirma en su reciente Sentencia de 3 de octubre como doctrina legal, que las prestaciones públicas por maternidad percibidas de la Seguridad Social están exentas del Impuesto sobre la Renta de las Personas Físicas. ¿Qué consecuencias tiene para...

Passive Foreign Investment Company (PFIC)

Passive Foreign Investment Company (PFIC)

Passive Foreign Investment Company (PFIC) A foreign entity/form of investment is a PFIC if it meets either the income or asset test described below. Income test. 75% or more of the corporation’s gross income for its taxable year is passive income (as defined in...

Archives

Subscribe to
our Newsletter