Expanding the Exceptions to the US Income Tax Resident Alien Definition
Expanding the Exceptions to the US Income Tax Resident Alien Definition Read More »
Two years ago, we wrote about BEA reports due to US individuals and entities investing abroad – http://www.derrenjoseph.com/2015/06/whats-form-be-10.html Note: The above reference link was live on June 2017, but it has since been taken down. It should be acknowledged that not just US outbound investment but also US inbound investment may be similarly required to
Bureau of Economic Analysis Read More »
The last tax havens to resist the global crackdown on evasion have bowed to intensifying political pressure over the leaked Panama Papers, experts said on Wednesday. The Paris-based Organisation for Economic Co-operation and Development said: “massive progress” had been made over the past year as it revealed there would be no significant offshore centers on
Trinidad & Tobago left as the last blacklisted tax haven Read More »
I assume that the employee is a US citizen who works in the UK, a resident of the UK under the US-UK income tax treaty, and has an approved pension scheme under UK law that his employer funded for work performed in the UK. The PFIC annual reporting requirements In general, if a US person
Do I have to annually report PFICs held in a UK pension scheme? Read More »
One frequent complaint from expat American citizens and Green Card holders arises when they marry a non American (known as a a Non Resident Alien or NRA). For many newlyweds, Married Filing Separately is the default option. Unfortunately, compared to other filing status, this could definitely be less tax efficient. Have a look here for
Being Punished by the IRS for Marrying a Foreigner Read More »
The Supreme Court on Monday struck down a federal law that treats children born overseas to unmarried parents differently for purposes of citizenship depending upon whether the biological father or mother is a US citizen. Under the law, US citizen fathers have to spend at least five years in the states before the child could
Supreme Court Decision Means Thousands Automatically Get U.S. Citizenship Read More »
The following questions and answers provide information to individuals of the same sex who are lawfully married (same-sex spouses). These questions and answers reflect the holdings in Revenue Ruling 2013-17 in 2013-38 IRB 201. Q1. When are individuals of the same sex lawfully married for federal tax purposes? A1. For federal tax purposes, the IRS looks to state or
What Filing Status Should a Married Same Sex Couple Use? Read More »
The following questions and answers provide information to individuals of the same sex and opposite sex who are in registered domestic partnerships, civil unions, or other similar formal relationships that are not marriages under state law. These individuals are not considered as married or spouses for federal tax purposes. These individuals are referred to as
Which Filing Status Should Unmarried Same Sex Couples Use? Read More »