Tax Guide

Learn how to reduce your foreign-source income tax by up to $104,100 in 2018

November 6, 2018

American expatriates use the Foreign Earned Income Exclusion to reduce or eliminate their U.S. federal income taxes on foreign-source wages and self-employment income. If you reside and work outside the U.S. and meet either the bona fide resident or physical presence test, you may qualify for this exclusion. Claiming the Foreign Earned Income Exclusion makes...Read More

How to appeal an unfavorable audit and get up to a 40% decrease in taxes

October 30, 2018

Tax audits can be rough, especially when you end up having to pay penalties. The IRS may choose to audit an individual’s taxes for a number of reasons. Reporting high income, making clerical errors on your taxes or failing to report taxable income, are common reasons why an audit might be warranted. Once an audit...Read More

IRS Form 656-B: how to settle your IRS tax debt for less without harming your credit

October 23, 2018

Sometimes, for a variety of reasons, taxpayers find themselves in a situation in which they are unable to fully pay all of their required taxes. This results in back taxes, which must be taken care of as soon as possible in order to avoid having to pay any penalties. Fortunately, the tax code provides an...Read More

IRS Form 4506 and 4506-T: How mortgage lenders verify a prospective tenant’s income with the IRS

October 11, 2018

When you apply for a loan, especially for a mortgage, you may have to submit IRS Form 4506 or Form 4506-T. Lenders use these forms to verify your income with the IRS. When you sign and submit Form 4506, the IRS sends a copy of your tax return history (going back up to seven years)...Read More

IRS Form 8802: how international US companies can reduce tax payments to local governments

September 18, 2018

Businesses that maintain operations internationally are subject to the withholding rates of the foreign countries they operate in. For tax purposes, local governments withhold tax on income paid from internal sources to residents of other countries, regardless of their residency. The withholding rates depend on the laws of individual countries. However, for certain types of...Read More

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