This is just a reminder to all US citizens, resident aliens and any domestic legal entity that the deadline to file the 2021 FBAR Form 114 Report of Foreign Bank Account and Financial Account is  15 October 2021. There is no extension of time to file to FBARs. Who needs to file? If you have a […]

We have highlighted below the top 5 US tax tips we think UK accountants and IFAs should know about how UK citizens can be subjected to US income and estate taxes. 1). When UK citizens spend a substantial amount of time in the US. If the individual is not a US citizen and was physically present […]

US Taxpayers who have an Individual Taxpayer Identification Number (ITIN) should check to see if their numbers will be expiring at the end of the year. More than 2 million ITINs are set to expire at the end of 2019. If your ITIN has not been used on a US tax return at least once […]

This is a brief summary of some 2018 US tax return changes that may affect your tax return. Standard Deduction Under the new law, the standard deduction for all taxpayers has increased from 1 January 2018. This is intended to significantly reduce the number of taxpayers who itemize their deductions. Itemised Deduction State & Local taxes […]

Many people have assets in the US, but if you are not a US citizen or tax resident (domiciled) of the United States you will want to understand how your US assets will be taxed once you pass away. Under the current law, “non-domiciled aliens” who own or have an interest in US situated assets […]

US Taxpayers who have an Individual Taxpayer Identification Number (ITIN) should check to see if their numbers will be expiring at the end of the year.  More than 2 million ITINs are set to expire at the end of 2018. If your ITIN has not been used on a US tax return at least once […]

The Internal Revenue Service announced on 16 January 2018 that they strongly encourage taxpayers who are behind on their taxes to pay the amount owed or enter into a payment agreement with the IRS if the amount owed is more than $50,000 to avoid putting their US passport into jeopardy. The Fixing America’s Surface Transportation […]