Skip to content 
In December 2016, new regulations were issued that require any U.S. entity that is both (i) wholly owned (whether directly or indirectly) by a foreign person and (ii) treated as a disregarded entity for U.S. tax purposes to file Form 5472 whenever a “reportable transaction” occurs. The most common of these entities used by […]
Are you non-American (NRA) and own US Real Estate? Read More »
Birth Abroad to Two U.S. Citizen Parents in Wedlock A child born abroad to two U.S. citizen parents acquires U.S. citizenship at birth under section 301(c) of the Immigration and Nationality Act (INA) provided that one of the parents had a residence in the United States or one of its outlying possessions prior to the
Acquisition of U.S. Citizenship by a Child Born Abroad Read More »
Here are the deadlines you should be aware of in 2017: April 18th: This is the first US tax deadline. US expats receive a two-month extension for filing, but any taxes owed must be paid by this date or interest will accrue. June 15th: This is the expat tax deadline for all Americans living overseas.
Filing US Taxes from the UK Read More »
While the outlines of the House plan are clear, the Trump White House has not issued a plan beyond the broad outlines the president campaigned on. It’s unclear when the president’s plan will be unveiled. Trump’s plan would reduce the top corporate tax rate from 35 percent to 15 percent, and also allow lots of non-corporate
What We Know About The Trump vs House GOP Tax Plans So Far? Read More »
The tax treatment of non-US entrepreneurs selling into the US is probably the most misunderstood issue in all of US international tax. This article discusses the US tax treatment of “non-resident aliens” or “NRAs.” You’re an NRA if you’re NOT any of the following: A US citizen, A US permanent resident (i.e., a “green card
If I’m not American and I sell stuff online to the US, do I need to pay US Income Taxes? Read More »
Form 1099-K, Payment Card and Third Party Network Transactions, is an IRS information return used to report certain payment transactions to improve voluntary tax compliance. You should receive Form 1099-K by January 31st if, in the prior calendar year, you received payments: from payment card transactions (e.g., debit, credit or stored-value cards), and/or in settlement
What’s Form 1099-K? Read More »
Today I’m sharing an article from – http://truewealthpublishing.activehosted.com/index.php?action=social&chash=0f49c89d1e7298bb9930789c8ed59d48.367 Die, and the U.S. government could confiscate 40 percent of your portfolio… Even if you aren’t American! By Tama Churchouse “Nothing is certain except death and taxes” – Benjamin Franklin We don’t spend too much time worrying about taxes here in Hong Kong. Hong Kong is one of
Read this if you own any U.S. stocks (especially if youre not American) Read More »
According to a recent IRS communication, the IRS will implement the new provision on January 1, 2017, which will eliminate the need for Certifying Acceptance Agents outside of the United States. Specifically, pursuant to Section 203 of the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”), Pub. L. 114-113, div. Q, enacted
IRS Eliminates ITIN Certifying Acceptance Agent Program Outside of the US! Read More »
On December 4, 2015, the Fixing America’s Surface Transportation Act, or “FAST Act,” became law. The purpose of the law was to provide long-term funding for transportation projects, including new highways. However, the Act also included a significant new provision that allows the Department of State (sometimes just called “State Department”) to yank passports from delinquent
Tax Delinquent? May lose your Passport!! Read More »
On January 27, 2017, President Donald Trump issued an Executive Order (EO) entitled “Protecting the Nation from Foreign Terrorist Entry into the United States.” Do read the text in full here – https://www.whitehouse.gov/the-press-office/2017/01/27/executive-order-protecting-nation-foreign-terrorist-entry-united-states Otherwise, here are 10 key points to consider – 1. The order prohibits visa issuance and admission for a temporary period