Tax Samaritan’s tax resources pages are the source for the information you need, from tax tips and relevant articles in our blog to tax tools, such as tracking your tax refund and to filing requirements. If you’re dealing with a new life event this year, like a new child, read on in this area to learn more about how this changes your tax situation.
Please feel free to contact your Tax Samaritan tax professional for answers to your specific tax situation.
U.S. citizens and U.S. residents who are officers, directors or shareholders in certain foreign corporations are responsible for filing Form 5471. Form 5471 Filing Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations, is in an information return that must be filed by U.S. citizens and U.S. residents who are officers, … Continue reading Form 5471 Filing – Information Return of U.S. Persons With Respect to Certain Foreign Corporations
If you have a financial interest in a foreign financial account, it may be a requirement for you to file a Report of Foreign Bank and Financial Accounts (FBAR) with the Financial Crimes Enforcement Work, a bureau of the Treasury Department. If you don’t file this report when it is due, the IRS can impose … Continue reading Understanding FBAR Penalties
Introduction Taxpayers who travel outside the United States frequently and have significant outstanding tax debts should take a special interest in the Fixing America’s Surface Transportation Act (hereinafter “the Act”). The Act may sound unrelated to taxation but it contains provisions aimed at accelerating the collection of larger tax debts thru the possibility of passport … Continue reading United States Taxpayers with Seriously Delinquent Tax Debt May Face Passport Revocation or Denial
The Tax Cuts and Jobs Act of 2017 was signed into law on December 22, 2017. Understanding the changes will be essential for all taxpayers, especially those abroad. On December 22, 2017, President Donald Trump signed H.R. 1, “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on … Continue reading Tax Cuts And Jobs Act of 2017 – A Summary
2017 Individual Tax Changes Many of the tax changes affecting individuals and businesses for 2017 were related to the Protecting Americans from Tax Hikes Act of 2015 (PATH) that modified or made permanent numerous tax breaks (the so-called “tax extenders”). To further complicate matters, some provisions were only extended through 2016 and are set to … Continue reading 2017 Individual Tax Changes – A Review
When it comes to collecting unpaid debts, the Internal Revenue Service is one of the most powerful organizations in the United States. In addition, the IRS usually begins trying to collect soon after they realize the debt is unpaid, so ignoring their billing notices won’t help. In many cases, the IRS’ aggressive collection activities lead … Continue reading Las Vegas Tax Levy
No one in Las Vegas plans or hopes to owe money to the Internal Revenue Service. However, sometimes your circumstances may make it impossible for you to pay what you owe. In such cases, you may find yourself owing a significant debt to the IRS. Unfortunately, the IRS has significant debt collection power, and they … Continue reading Las Vegas Tax Resolution
Whenever you owe a debt you can’t pay, the organization or individual you owe will always try to collect. However, when it comes to collecting debts, the Internal Revenue Service has more power than most other creditors. Shortly after you fail to pay your debt, the IRS can begin the collection process by filing a … Continue reading Las Vegas Tax Lien
Most people are required to pay taxes on the income they earn during the year. If you owe income tax, the Internal Revenue Service expects to receive payment in full by April 15th of the following year. Unfortunately, some people aren’t able to pay their tax bills on time. When this occurs, you may experience … Continue reading Las Vegas Tax Problems
If you owe money to the IRS, you are probably facing aggressive collection actions. Until the IRS receives the unpaid amount in full, they will continue to try to collect from you in any way they can. In order to stop the collections process, you need to seek Las Vegas tax relief as soon as … Continue reading Las Vegas Tax Relief