The U.S. tax system is known for its complexity, large volume of rules, and constant updates. Each year, taxpayers must interpret federal, state, and, in many cases, local rules, in addition to dealing with a set of forms, credits, deductions, and ancillary obligations that vary according to economic activity and family structure. […]
Fiscal Impacts and Other Provisions On Friday, July 4, U.S. President Donald J. Trump signed the One Big Beautiful Bill Act into law. This law is part of the president's agenda for his second term and introduces several changes to the country's tax provisions. Below we highlight
The year 2025 begins, and with it Tax Season in the United States. Did you know that here we have progressive tax tables for individuals that can vary depending on your marital status? Or even on how you want to file your taxes with the IRS? Below we will list the tax tables for
In the United States, the new tax season begins on January 1, 2025, with the following important dates throughout the year. Make a note so you don't forget: Despite the final dates for filing taxes, the IRS encourages companies and individuals to file their returns early in the year, from
Form 3520, also known as the “Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts,” is a crucial document for U.S. citizens and residents who have financial relationships with foreign trusts or who receive significant gifts from foreign sources. This form is required by the Internal Revenue Service (IRS) and has
Do you receive donations from outside the United States? Look out for IRS Form 3520. Read More »
The oil and gas sector is one of the pillars of the global economy, offering not only investment opportunities but also significant tax benefits for investors. In this article, we will explore the advantages of investing in this sector and the tax incentives available. 1. Growth Opportunities: Investing in oil and gas can be highly profitable, especially
Investing in Oil and Gas: Tax Benefits and Opportunities Read More »
US citizens or green card holders living abroad often ignore the obligation to declare global income to the US, leaving them liable to severe penalties and criminal fines. If you are in default due to ignorance of IRS regulations, the Streamlined Filing Compliance Procedures program is your legal way out. It allows you to regularize
Tax Regularization Without Fines: The IRS Streamlined Safe Path Read More »
The year 2024 begins, and with it Tax Season in the United States. Did you know that here we have progressive tax tables for individuals that can vary depending on your marital status? Or even on how you want to file your taxes with the IRS? Below we will list the tax tables for
In the United States, the new tax season begins on January 1, 2024, with the following important dates throughout the year. Make a note so you don't forget: Despite the final dates for filing taxes, the IRS encourages companies and individuals to file their returns early in the year, from
Some taxpayers are eligible for more than one status for income tax purposes, and as they prepare for the upcoming filing season, they should carefully review their options to choose the status that makes the most sense for them. Those who are eligible for only one status should review their situation after
Find out what are the Status for income tax purposes in the United States Read More »
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