If an individual meets the criteria for foreign income exclusion, they can enjoy this tax benefit. This exclusion also entails the foreign housing exclusion and the foreign housing...
Posted by CORE PERFORMANCE on 10/09/2021
It is no news, nor will it come as a shock to anyone that more companies are entering the global market, including small and medium-sized businesses. Deliberate expansion into a promising...
Posted by Elliot Kravitz, ATP on 06/06/2021
Expats, short for expatriates, are people who are based in a country other than their home country. It is sometimes believed that these people have denounced their country and decided...
The IRS has issued guidelines on the denial and revocation of passports due to serious tax violations. The IRS must notify the State Department when a person has a "serious"...
An IRS relief procedure for certain former citizens was introduced in September 2019 to allow certain Americans to renounce their U.S. citizenship without paying taxes and fines.The...
Deployed service members must submit their taxes. Fortunately, the Internal Revenue Service realizes that the service members and their families face unique circumstances and offer...
What are foreign tax credits?Foreign tax credits are non-refundable income tax credits paid to a foreign government because of income tax. The foreign tax credit is available for those...
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
The Income Tax Service has classified the income of Indian citizens into five different categories, depending on their source of income. These categories mainly include homeownership,...