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The 5 Most Common Reasons For FBAR Penalties
The Foreign Bank and Financial Accounts Report (FBAR) is a form that is required to be filed by U.S. taxpayers who have foreign financial accounts. The FBAR is used to help the government detect and combat international money laundering and terrorist financing. If you fail to file the FBAR, you may be subject to civil…
How to Save More on Your Taxes
There are several ways that you can save money when filing your taxes depending on your individual circumstances. These include the Foreign Earned Income Exclusion, Foreign Tax Credit, and Foreign Housing Exclusion. The FEIE reduces your income by paying housing expenses. If you qualify and file on time, you can save big on your taxes. Most…
TELL US YOU LOVE US, BECAUSE PROVIDING GREAT SERVICE IS OUR #1 PRIORITY!
Leave us a testimonial on Google, Facebook and Yelp and automatically be entered into a drawing to WIN A FREE 2020 TAX RETURN*! *up to $400 value *reviews must be posted on one of Expatriate Tax Returns sites in February 2021 *increase your chances of winning by leaving a review on more than one site,…
COVID Penalty Relief for Taxpayers
Many unforeseen situations can occur at any time and for anyone. The IRS understands this and has given taxpayers flexibility. Notice 2022-36 gives relief to those in areas declared by the Federal Emergency Management Agency as a disaster. Only 2019 and 2020 tax returns are qualified under this issue. Areas within November 15, 2022, are…
