Learn what you need to know about with clear, in-depth articles on U.S. taxation with a focus on U.S. taxpayers overseas. See what tax expert Randall Brody has to say and get the real scoop.
Randall Brody is an enrolled agent, licensed by the US Department of the Treasury to represent taxpayers before the IRS for audits, collections and appeals. To attain the enrolled agent designation, candidates must demonstrate expertise in taxation, fulfill continuing education credits and adhere to a stringent code of ethics.
Since 1997, Tax Samaritan founder Randall Brody has been helping people save money on their tax return. We specialize in the preparation of taxes and the resolution of tax problems for Americans living abroad, as well as the unique tax issues that apply to taxpayers that are gamblers, teachers, nurses and military. Each of our returns is prepared from the practical, real-world need that we see every day from our clients – a simple process to complete your return while paying the least amount in taxes.
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CFC Tax And The Anti-Deferral Regime When taxpayers hear the term CFC Tax, it’s a reference to Subpart F. CFC tax or Subpart F is applicable to Controlled Foreign Corporations (CFCs) and their shareholders. It is the main anti-deferral regime applicable to US shareholders (owners) of a foreign corporation. What Is A CFC – Controlled … Continue reading CFC Tax – The US Anti-Deferral Regime→
Many banks, investment funds and information material tout a QEF election as the easy way out of escaping the default PFIC treatment. But, it is anything but that. This is based on the presumption that the company will provide the required information and make the required reporting in order to make a QEF election in … Continue reading QEF (Qualifying Electing Fund) Election For PFIC→
2015 Form 8621 Changes There was only one change to the 2015 Form 8621 that helps reduce duplicative reporting. A new checkbox has been added to page 1 of the 2015 Form 8621 for taxpayers who also are required to file the Form 8938, Statement of Specified Foreign Financial Assets , and who satisfy their … Continue reading 2015 Form 8621→
Delinquent International Information Return Tips If you are like many Americans abroad facing the ugly spectre of a Delinquent International Information Return and the risk of penalties or worse and wondering what to do, here are a few of our tips to keep in mind. Tip #1: The Open-Ended Statute of Limitations for Taxpayers With … Continue reading Delinquent International Information Return – Tips On What To Do→
Wonder About A Shell Company In light of the recent scandals, you might be wondering yourself if your name came up on the list of “Offshore Billionaires evading taxes”. Truth is, few of us know that owning a shell company or having an offshore bank account is NOT synonymous with tax evasion. It is indeed … Continue reading The Panama Papers – What To Do If You Own A Shell Company→
Form 1042-S – US Source Income Subject To US Income Tax Withholding The US real estate market continues to be an attractive one for foreign investors, despite the fragile economy, the uncertainty that comes with the upcoming elections and despite the less than favorable regulatory environment heavily influenced by FIRPTA and the rest of the … Continue reading Form 1042-S And 30% Withholding Tax On Rental Income→
The Need For An Expat Tax Professional – How To Find The Best Online Expat Tax Professional Firms for 2019 If you live overseas, chances are that you will need a U.S. expat tax professional at some point. To hire the right person, you are going to need to research the best online expat tax … Continue reading Best Online Expat Tax Professional Firms 2019: A Review→
All the recent scandal about the Panama Papers and tax havens and shell companies bring to light the hornet’s nest that FATCA has been stirring up. The media makes it sound like having a shell company or an offshore account automatically makes you a criminal – but that is far from the case. I will … Continue reading Panama Papers – Explained→