Welcome to the weekly news roundup, your one-stop shop for expat news. In honor of tax season having begun on Monday, we’re featuring information about how the Tax Cuts and Jobs Act will affect foreign earnings, answers to the most common expat questions, and up-to-date US income tax reporting requirements for foreign businesses. With any luck, this briefing will make your 2018 expat taxes a little easier.
The IRS and Treasury Department Issue Clarification on “Transition Tax”
One month into 2018, expat taxes have certainly changed, though the Tax Cuts and Jobs Act did not drastically alter the course of expat tax preparation in general. If you are an expat who owns a US company with a foreign subsidiary, you may be interested in the additional information on how the “transition tax” will be computed for the untaxed foreign earnings of your company. The IRS has mentioned that more updates will likely follow, and we will be sure to keep you posted along the way.
2018 Expat Taxes: Your Questions Answered
If you’re ready to tackle your taxes this year but want to make sure you have the most current information, why not read up on our answers to the most common expat questions? We’ve covered deadlines, suggestions on how to prepare in advance, and when you can expect a refund.
US Income Tax Reporting Requirements for Foreign Businesses
If you have a foreign business, then you may already know that each foreign entity classification comes with different reporting requirements. The process for reporting on foreign businesses can be tricky, so make sure you know which forms will be required of you. Our handy guide makes it easy!
That’s all, folks!
We will be back next Friday with more news tailored specifically for expats. But in the meantime, we’re always here to answer your questions!