Retiring abroad is a dream for many individuals seeking adventure, a change of scenery, or a more affordable retirement lifestyle. While retiring to a foreign country can be an exciting...
Posted by Rosovich & Associates, Inc. on 10/31/2023
Puerto Rico is partially part of the United States, making the laws different from the other 50 states. The US determines your tax by checking where you earn your income and residency...
Posted by Taxes Made EZ Inc on 12/08/2022
Ever heard of the TAP? Well, you have nothing to worry about as you're not alone. What is TAP?TAP is a Federal Tax Advisory Committee to the IRS. The purpose of TAP is to...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/21/2022
What is a foreign tax credit?A foreign tax credit is a United States tax credit that is used to offset income tax paid abroad. United States citizens and resident aliens who pay income...
Posted by Rosovich & Associates, Inc. on 05/31/2022
We totally get it. People with thousands and millions of dollars sometimes like to hide their money abroad.Of course, the government disapproves of tax evasion. After the financial...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 12/27/2021
Regardless of your level of insight into taxes as an individual or a business, you must understand the concepts of FATCA and FBAR and their differences because to understand and utilize...
As a non-citizen of the United States or living abroad, filing a first-time tax can be challenging. You have no experience and what it takes to file tax for the first time correctly....
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...