by Lance Morris | Jul 18, 2021 | Uncategorized
As part of the many benefits which have been provided by the IRS during the course of the pandemic, the latest is the Advance Child Tax Credit. Designed to enable families get advance payments of the credit. the IRS will pay half the total credit amount in advance...
by Lance Morris | Jul 4, 2021 | Uncategorized
In our previous article, we focused on the potential tax changes to cryptocurrencies, proposed by US President Joe Biden. This week, we move our focus to the possible changes which may be made to capital gains tax. President Biden has made it abundantly clear that he...
by Lance Morris | Jun 20, 2021 | Uncategorized
Since the Tax Cuts and Jobs Act (TCJA) was introduced and signed into law under the presidency of Donald Trump in 2017, minimal further changes have been made to the tax code. The main features of the TCJA were expanded compliance obligations for US controlled...
by Lance Morris | Jun 7, 2021 | Uncategorized
For most, it may seem logical that upon receiving a gift, you may end up with a tax liability, this is not the case with regards to US taxation. In the US, gifts are taxed to the person making the gift, rather than the recipient. But even then, large exclusions exist...
by Lance Morris | May 23, 2021 | Uncategorized
Whilst the Report of Foreign Bank Accounts (FBAR) has become more widely known amongst US expats in recent years, lesser known is Form 8938. Administered by the IRS, Form 8938 is very similar to the FBAR, but does have some key differences on who needs to file. Learn...
by Lance Morris | May 9, 2021 | Uncategorized
Amongst the many thousands of rules and regulations that the IRS requires US citizens to comply with, are a separate set of regulations and forms for those with income from farming. Reported on Schedule F, farming income can have some very beneficial tax treatment,...
