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Top Virginia - US TAX TALK News

Citizenship · United States

PODCAST! Crash Course Info! Renouncing US Citizenship / Relinquishing Green Card – Beware The Exit Tax and More

A very informative podcast – I would say it’s a crash course on the US #expatriation regime including the recently issued final IRS regs on the Sec. 2801 transfer tax, lots of tax tips including gifting issues to get below USD 2 million threshold, what NOT TO DO if CBP wants you to sign I-407 giving up the #greencard at the border and the potential expatriation issues involved in making a treaty tie-breaker election. #coveredexpatriate #ustax #r…See the Story

Taxes · United States

FBAR Due Date: Triggers And Key Compliance Rules For U.S. Taxpayers

As the April 15 tax filing deadline approaches, U.S. persons with foreign financial accounts must be aware of their obligation to file the Report of Foreign Bank and Financial Accounts, commonly called the “FBAR”. The filing deadline is April 15, the same due date as one’s U.S. income tax return, but there is an automatic extension to October 15 if the initial FBAR deadline is missed. No separate extension request is required. For tax year 2024…See the Story

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News from Virginia - US TAX TALK