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<h1 class="entry-title">Tag: irs</h1>
08 Apr
Blackboard with April 15 Tax Day written in big letters

Admitting Defeat On Tax Form 5471… For This Year Anyway

How The IRS Finally Got Me To Cry Uncle OK. I give up. I started working on my U.S. tax returns last week. Ordinarily, that'd have allowed me plenty of time to finalize everything in time to file on the 15th. But these are not ordinary times, dear fellow offshore American. The changes as represented [...]
12 Nov
couple tax return

Considering Your Tax Options? Remember To Put Profits First

Why I'm Sometimes OK Paying More Taxes A few years ago, after reading an article I'd written detailing an American's ongoing obligation to file a tax return with the IRS each year even after he's moved overseas, a reader wrote in to correct me. The reader proudly pointed out that an American does not need [...]
26 Oct
Will Congress Eliminate Worldwide Taxation Of U.S. Citizens? vuew of the US capitol building

Will Congress Eliminate Worldwide Taxation Of U.S. Citizens?

Talk about potentially eliminating the worldwide taxation of U.S. citizens is getting some expats excited. In theory… if the proposed change were approved… that would put U.S. citizens on par with citizens of every other country in the world except Eritrea, the only other country that also taxes citizens on worldwide income no matter where […]

15 Jan
Understanding How To Use A 1031 Like-Kind Exchange When Investing In Property Overseas

Understanding When You Can Use A 1031 Like-Kind Exchange When Investing In Property Overseas

At the Live and Invest in Belize Conference this week, several attendees asked about using a 1031 like-kind exchange to move capital overseas. Specifically, they wanted to sell investment property in the United States and use the proceeds to invest offshore. A 1031 like-kind exchange is an IRS mechanism that allows an investor to exchange […]

07 May
Transportation Bill Allows IRS To Revoke U.S. Passports

Transportation Bill Allows IRS To Revoke U.S. Passports

I’d say that a second passport is a more critical piece of your global diversification plan right now than ever before.The U.S. Senate has passed a transportation bill that includes a section giving the IRS the power to revoke the passport of any American who the IRS decides might owe US$50,000 or more in taxes. […]