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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The Skinny On The Foreign Account Tax Compliance Act (FATCA) How Is It Impacting You? It’s what Swiss bank executives yelled out when they received fines for aiding American citizens in hiding assets from the IRS, fines that have netted a billion dollars . It’s what Bank executives all over the world now utter when … Continue reading Foreign Account Tax Compliance Act (FATCA)–The New F Word→
IRS Form 982 Do I need to file it? Extreme caution should be taken when presenting your tax returns for a year in which some of your debt was forgiven. In an economy where we have seen years of cancelled debt due to soaring primary residence debt, rising education costs, and record level credit card … Continue reading Form 982-Reducing The Tax due On Your Cancelled Debt→
Avoiding Taxes With Offshore Income The IRS has stated that avoiding taxes by hiding Offshore Income or overseas assets in unreported offshore accounts remains on its annual list of tax scams known as the “Dirty Dozen” for the 2015 filing season. Since the first Offshore Voluntary Disclosure Program (OVDP) opened in 2009, the IRS reports … Continue reading Hiding Offshore Income On The IRS “Dirty Dozen” List→
FBAR Disclosures Top 1 Million Yesterday, the IRS announced that FBAR disclosures topped 1 million filings to a record of 1,163,229 FBARs, up more than 8 percent from the year prior. As awareness and compliance efforts increase, it is important that taxpayers in the US and overseas are aware of the FBAR filing requirements and … Continue reading FBAR Filing Requirements – What You Need To Know→
Two Cayman Island Financial Institutions Plead Guilty in Manhattan Federal Court to Conspiring to Hide More Than $130 Million in Cayman Island Offshore Accounts U.S. Attorney Preet Bharara for the Southern District of New York, Acting Deputy Assistant Attorney General Stuart Goldberg of the Justice Department’s Tax Division, and Chief Richard Weber for the Internal … Continue reading Cayman Island Offshore Accounts→
Removal Of Restrictions For Cuba Income The IRS has just released Revenue Ruling 2015-08 that removes restrictions for claiming the foreign tax credit for income taxes paid on Cuba income. In addition, the previous tax rule disallowing Cuba income deferral for income earned through a Controlled Foreign Corporation (CFC) has also been removed. Taxes Imposed … Continue reading Cuba Income and US Tax Benefits→
IRS Estimated Taxes The United States income tax system is a pay-as-you-go tax system, which means that you must pay income tax as you earn or receive your income during the year. You can do this either through withholding or by making payments for estimated taxes. If you do not pay your tax or you … Continue reading Estimated Taxes – Determining What To Pay And When→
Taxes For Expats At Tax Samaritan, we are a highly specialized team of Enrolled Agents (EA) that provide U.S. taxes for expats securely with the convenience and quality interaction that you expect from a local professional. If this is your first time abroad, the concept of taxes for expats may have not ever crossed your … Continue reading Taxes For Expats→
Purpose Of An IRS Power Of Attorney Authorization If you are dealing with a IRS tax problem, you can decide to represent yourself or have an Enrolled Agent represent you with an IRS Power of Attorney Authorization. The IRS Power of Attorney form, Form 2848 is used to authorize another person to act on your … Continue reading IRS Power Of Attorney – A Convenient Way To Get Help→
IRS Form 8938 – Purpose Of The Form The IRS Form 8938, Statement of Specified Foreign Financial Assets is used to report your specified foreign financial assets if the total value of all the specified foreign financial assets in which you have an interest is more than the appropriate reporting threshold. While there is overlap … Continue reading IRS Form 8938 [Updated 2019]→