News

This month, the IRS finally came roaring into the 21st Century with a new document upload tool for taxpayers. For most individuals who’ve needed to send documentation to the IRS, such as in response to notices or assessments, it would’ve been noted that the IRS...

News of the staffing crisis at the IRS is likely not a surprise to many, with processing and refund delays seemingly becoming worse year on year. Many of our New Zealand and Australian based clients are currently waiting up to 6 months for their returns to be...

One of the few financial benefits which our staff at US Global Tax, have seen an increase in during the pandemic, is debt cancellation. Whilst this has mainly been for businesses in the form of rent relief, it does occur commonly on an individual level also. But, what...

In July 2020, the US Treasury conducted an audit of the IRS and the management of withholding/refunds for those who receive income on Forms 1099/1042-S.

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...

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...

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.

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...

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...

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,...