2016 dating international tip
The 2016 tax filing season has officially begun, and the IRS is now accepting returns from U. Since the enactment of the Foreign Account Tax Compliance Act (FATCA) in 2010, the IRS has made great strides in its global information-gathering capabilities. This could very well be the year your account information is sent to the audit-hungry IRS.
1) Hiding your head in the sand is an increasingly bad idea. With each passing year, tax delinquency becomes a worse and worse idea, and 2016 is no different. signed several unprecedented international agreements regarding the digital exchange of information and began receiving massive amounts of overseas account information from FATCA partner countries.
When speaking recently about this program, IRS Commissioner John Koskinen suggested that the program will eventually be closed once the IRS determines that there’s no way a taxpayer who would want to participate couldn’t have heard about the process (rendering the taxpayer willfully delinquent by default).
2) Certain tax provisions have been adjusted for inflation. expats, the following adjustments were announced for this season: 3) The foreign tax credit, if available, is preferable for expat parents. expat parents should consider the foreign tax credit as the preferred alternative from now on, for the following reason: A new law specifies that taxpayers who utilize the FEIE cannot claim the child tax credit (which may be refundable up to an amount of $1,000 per child).
Once the doors opened, everyone rushed straight for the schools with the best reputations and most attractive packages,” she explained.