05/22/2021
AARO, US tax attorney Monte Silver, and Bright!Tax invite you to a webinar covering updates for filing in 2021 for both individuals and business owners. The webinar will also cover Covid relief, the new Child Tax Credit, and expected changes to the tax law this year such as estate tax and corporate/GILTI tax rates. The webinar is for American citizens […]
05/06/2021
The IRS got off to a slow start to 2021, with a late announcement of a late start to tax season, and the pattern has continued since. The reasons are perhaps understandable, in that there have been two new rounds of stimulus checks to distribute at short notice, and continued disruption due to the pandemic. […]
04/26/2021
Bright!Tax is proud to be participating in a free-to-attend webinar for Americans living overseas hosted by The American magazine and covering US expat tax filing updates in 2021. American Citizens Abroad (ACA) legal council Charles Bruce will also be participating to provide an update on ACA’s work in Washington on behalf of expats. The webinar […]
03/29/2021
2021 is set to be another year of change in US taxes, with the Coronavirus pandemic still affecting both government and citizens, and the new administration planning significant law changes. The IRS is investing in a year-long revamp of its IT systems, including Medicare and FATCA (more about FATCA later), as well. In this article, we […]
03/25/2021
On March 17, the Treasury and the IRS announced that the 2021 federal income tax return filing deadline for individuals was being moved back to May 17 for filing 2020 taxes. The new due date is May 17 rather than May 15 because May 15 falls on a Saturday this year. The extension also applies […]
03/15/2021
Bright!Tax Partner Katelynn Minott will be joining Brian Dunhill, founder of Dunhill Financial, to provide advice for U.S. expats filing, investing, and retirement planning in 2021. The agenda will include guidance for filling taxes from abroad this year, investment considerations, IRAs, pensions and more. Brian Dunhill is a Financial Planner with a core emphasis on […]
03/11/2021
Dual citizens, or dual nationals, are citizens of two different countries. Dual citizenship was prohibited in most countries in the nineteenth and early twentieth centuries, however the United States has allowed Americans to be dual citizens since 1967. Dual nationality is most often acquired either through parentage, or through naturalization (obtaining a second citizenship through […]
03/04/2021
The two most common reasons why Americans move abroad are for a career opportunity, or for romance. Moving abroad doesn’t mean stopping filing US taxes though, as the American tax system requires all Americans citizens and Green Card holders to report their worldwide income every year, whether they live in the States or overseas. Historically, […]
02/25/2021
A gift to a foreign spouse (a Nonresident Alien or NRA spouse in IRS speak), can be an effective strategy for Americans living abroad to reduce their US tax bill. Americans living abroad married to a foreign spouse are required to file US taxes on their global income every year. This is true of all […]
02/15/2021
Over 9 million Americans live overseas, and every year the number is growing. Every year however, many Americans move back to the US, too. All American citizens are required to file US taxes, reporting their global income, including Americans living overseas. What happens when Americans move back to the US mid-year though? In this article we […]