US Tax & Banking

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New IRS Extended Deadlines for 2019 Tax Year 

New IRS Extended Deadlines for 2019 Tax Year 

July 15, 2020 - For filing 2019 US Tax Return (2019 tax return) and, to avoid interest and penalties, for payment of any tax due
Note:  For expatriates this means the deadline to file your 2019 tax return has been extended by one month (from June 15 to July 15)

July 15, 2020...

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CARES ACT Stimulus Payments, a.k.a. Economic Impact Payments, during the pandemic for US citizens and US resident aliens living abroad

By Olga Kocybik, CPA, Tax & Banking Committee Chair, AIWC Düsseldorf

 

I.  Introduction


Millions of US citizens and US resident aliens including those living outside the United States (also referred to as international taxpayers, expatriates or expats) have already received, and are continuing to receive, their Economic Impact Payments as stimulus during the COVID-19 pandemic. This stimulus package, the...

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A Checklist of Tax Year 2019 Tax Dates and Changes

By Olga Kocybik CPA, US Tax & Banking Committee Chair, AIWC Düsseldorf

 

If you are a U.S. citizen or resident alien living outside the United States, even though you may not owe any U.S. tax, you generally are required to file U.S. income tax returns, estate tax returns, and gift tax returns. Some may also be required to file...

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GILTI and Section 965 Transition Tax

2017 Tax Reform Changes Affecting Shareholders in Foreign Businesses

In this article we will cover an important addition to the Tax Reform law enacted in late 2017 (2017 Tax Reform). The added tax is commonly referred to as Section 965 tax, transition tax, repatriation tax, or GILTI tax. It is aimed at taxing the income of U.S. Persons who are shareholders of foreign businesses that operate mostly or entirely outside...

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The NEW Child Tax Credit (affecting Tax Year 2018 and going forward)

Child Tax Credit and Expatriates By Olga Kocybik (AIWC Düsseldorf)

If you are a US citizen or resident alien living outside the United States, even though you may not owe any US tax, you generally are required to file US income tax returns, estate tax returns, and gift tax returns. If you have an interest in, or signature or other authority...

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Filing 2018 U.S. Tax Returns Under the New Tax Reform Law

By Olga Kocybik (AIWC Düsseldorf)

If you are a US citizen or resident alien living outside the United States, even though you may not owe any US tax, you generally are required to file US income tax returns, estate tax returns, and gift tax returns.  Some may also be required to file a state or local tax return. 

Regardless of...

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“Overseas Filing for US Taxpayers” Webinar May 25

The IRS is developing a series of “Practice Units” to help tax preparers and filers in this tax season.  Their LB&I (Large Business and International) section sends us the following notice which we think might be of interest to many of our members.  


LB&I “Overseas Filing for US Taxpayers” Webinar May 25

LB&I International Individual Compliance will present the...

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