If you are a US citizen or resident alien (i.e. green card holder), then, you are suppose to file taxes with the United States authorities, especially at the Federal level (IRS) even if you do not live in the United States. The United States (and Eritrea, only two countries in the World) taxes its citizens
In this year so far, we have published several posts regarding the Beneficial Ownership Information (BOI) enforced by Financial Crimes Enforcement Network (FinCen). The latest BOI related post titled " When in doubt, keep filing BOI reports" from March 2024 expressed our recommendation to keep filing the BOI as the unconstitutional declaration by the U.S.
In the IR-2022-45, the IRS reminds taxpayers of their reporting and potential tax obligations from working in the gig economy, making virtual currency transactions, earning foreign-source income or holding certain foreign assets. Gig economy earnings are taxable Generally, income earned from the gig economy is taxable and must be reported to the IRS. The gig
The IRS reminds foreign bank and financial account holders the FBAR deadline remains April 15 in their Issue Number: IR-2021-83. Who Must File A United States person, including a citizen, resident, corporation, partnership, limited liability company, trust and estate, must file an FBAR to report: a financial interest in or signature or other authority over
