From the White House: Making It Easier for Americans to Support Haiti
From the White House Blog: http://www.whitehouse.gov/blog/2010/01/22/making-it-easier-americans-support-haiti
In the days since the earthquake in Haiti, Americans have shown their generosity with millions of dollars in donations. Tonight, President Obama signed a bill into law that makes it easier to give. This legislation will allow taxpayers to receive the tax benefit from donations made to the Haiti [...]
Unofficial Exchange Rates for 2009
You must report all income in U.S. dollar equivalents. The Internal Revenue Service (IRS) has no official exchange rate. Any posted exchange rate that is used consistently is acceptable. For additional exchange rates, check the U.S. treasury website at http://fms.treas.gov/intn.html#rates. Taxpayers generally use the yearly average exchange rate to [...]
YouTube: Tips from the IRS – Watch Out for Tax Scams
Here’s a Tip from the Internal Revenue Service (IRS). The IRS will never send you an unexpected email about your taxes or a refund. If you get one, there’s one thing you can count on. It’s a scam. Everyday, crooks come up with new ways to steal your identity and other personal information. Scammers may [...]
Warning: New IRS Phishing Scheme!
21 October 2009
There is new phishing scheme that professes to be from the IRS Office in London. The sender states that he is an IRS employee and asks you to pay a transfer charge or processing fee in order to obtain a substantial sum of money. Do not reply to this attempt to gain your [...]
New “IRS” E-mail Scam Circulating
In recent weeks, a phony e-mail claiming to come from the IRS has been circulating in large numbers. The subject line of the e-mail often states that the e-mail is a notice of underreported income. The e-mail may contain an attachment or a link to a bogus Web page directing taxpayers to their “tax statement.” [...]
U.S. Citizenship – Rights and Responsibilities
There are many people in the United Kingdom who posses U.S. citizenship but may have never lived in the United States before. American citizenship comes with certain rights and responsibilities that every citizen should be aware of. As a U.S. citizen abroad, you should be aware that certain responsibilities are requirements of all U.S. citizens, [...]
What Is The Foreign Earned Income (FEI) Exclusion?
Q: What is the foreign earned income (FEI) exclusion?
A: Central to the tax rules for certain filers of US tax returns who live and work abroad is the ability to exclude up to $85,700 of earned income annually. Earned income that may be excluded means wages, salaries, professional fees, and other compensation received for personal [...]
Foreign Bank Accounts
The public may be unaware of their obligation to report their foreign bank accounts to the Department of the Treasury. Recent news events have highlighted foreign bank account reporting. While there are many legitimate reasons to own foreign financial accounts, there are also responsibilities that go along with owning such accounts. Foreign [...]
Reaching Out to Americans Abroad
The IRS website at www.irs.gov contains valuable information regarding various international tax topics. Below is the April edition of the The International Tax Gap Series of articles. The full text of this article may be found at www.irs.gov/businesses/article/0,,id=205889,00.html.
International Tax Gap Series – April 2009
Globalization continues to affect us all. Businesses are no longer defined by [...]
Some IMPORTANT Numbers to Think About
Did you know that Social Security will pay $53.7 billion to 50.9 million beneficiaries in 2009? Did you also know that this will be paid to 32.3 million retired workers and three million of their dependents?
But did you also know that some people who get Social Security benefits will have to pay taxes on [...]
