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.
Merrill Lynch has recently been sending letters to many of their US citizen clients living outside the USA saying that their accounts will be closed as of a certain date in the very near future. The letter typically states the following: We have conducted an extensive review of our non-US resident client business to determine … Continue reading Merrill Lynch Closing Brokerage Accounts for US Expats
1040-NR-EZ Isn’t So Easy Like it or not, U.S. tax law imposes taxes on U.S. source income for individuals even if they are not a U.S. citizen or resident. If you are a nonresident alien, you must pay federal income tax on U.S. sourced income only. In the majority of cases, you are required to … Continue reading 1040-NR-EZ: The Complex Truth About Simple Form 1040-NR
The new annual due date for filing Reports of Foreign Bank and Financial Accounts (FBAR) for foreign financial accounts is April 15. This date change was mandated by the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, Public Law 114-41 (the Act). Specifically, section 2006(b)(11) of the Act changes the FBAR due … Continue reading New FBAR Due Date
The Form 1040-NR – Filing A Non Resident Alien Tax Return The Form 1040-NR is also known as the U.S. Nonresident Alien Income Tax Return and is the tax form you prepare and file if you are a nonresident of the United States. The American tax code is one of the most complicated series of … Continue reading What is the Form 1040-NR?
Two Types Of Non-Resident Tax Return Filing a non-resident tax return generally means one of two things: filing a non-resident state return and/or filing a non-resident alien return. A non-resident state return is for those who are not residents of the state but have income from a state that has an income tax and have … Continue reading Filing a Non-Resident Tax Return
IRS Form 1042-S American tax laws are hard enough for Americans to understand. It can be much more difficult when you add a person who has income in the United States, but is not a resident, nor a US citizen and received an IRS Form 1042-S reporting US-source income. For folks with US source income, … Continue reading What Is The IRS Form 1042-S?
How To File Back Taxes The number one mistake many people make with the IRS and their taxes is failing to properly file a tax return. Failing to file a tax return is a serious issue. Not knowing how to file back taxes is not an excuse to the IRS or states. That’s because it … Continue reading How To File Back Taxes – Catching Up On Filing Back Taxes
Important Advice If You Take A Home Office Deduction On Form 8829 Noted as one of the top areas that the IRS examines in personal tax returns, the home office deduction claimed on the IRS Form 8829, Expenses for Business Use of Your Home is both a valuable benefit and a dangerous bane for small … Continue reading Form 8829 – What You Need To Know About Home Office Deductions
Online Tax Preparation – Should I Self Prepare My Return? Online tax preparation is a popular option for taxpayers that choose to self-prepare their own return. But is it self-defeating? It can be. For simple returns, it can be a good strategy to save money. When Should You Consider Doing Your Own Taxes You have … Continue reading Online Tax Preparation – Is Self-filing Self-Defeating?
Finding The Best Professional Tax Service For taxpayers who are wading through their options on where to prepare their tax return and choosing a professional tax service, we offer six tips to find the best professional tax service: Check the credentials of the tax preparer. All tax preparers, whether an Enrolled Agent, CPA or un-enrolled … Continue reading Professional Tax Service – Top Six Tips For Choosing A Tax Company