Andrew Coleman
Articles
5 Ways the IRS Can Fine & Penalize Taxpayers
You’ve done the work and your tax return is prepared - now what? In the unfortunate circumstance that you owe the IRS tax, your project is not done until you’ve paid the piper. Let’s examine separately the various fees the IRS may charge you: • Interest • Failure to Pay Estimated Payments<...
Bitcoin & Other Virtual Currencies on Your U.S. Tax Return
Welcome to the gold rush of 2017, where the new gold is no longer a physical product, but virtual currency (cryptocurrency). All the rage in silicon valley, the subject of many ...
Self-Employment Taxes When Working Outside the US
Are you a contractor or an employee? This tax self-identity crisis will depend on how your income is reported. Depending on where you are employed, IRS reporting requirements vary. You are paid by a U.S firm If payment for services rendered is listed in box 7 of Form 1099...
Giving Up Your Green Card? The IRS May Have a Surprise for You
As a Green Card (GC) holder, you have the same tax filing requirements as US citizens. If you choose to give up on the American dream and surrender your Green Card, depending on how long you held your Green Card, there may be additional reporting requirements. ...
New IRS Identity Verification Requirement - How to Comply And What This Means For Overseas Americans
Starting from the 2016 tax year, the IRS and state revenue agencies require tax practitioners to verify client identity and to document the methods used. “Just doing my job” - Please do not get angry with your tax preparer. The IRS, in an effort to ...
The State of California - Can Expats Ever Leave (Tax-Wise)?
In California, when Proposition 55 passed it extended the “temporary” tax of 13.3% on higher income earners through 2030. It is applicable to approximately 1.5 percent of people in California - single filers earning USD 263,000 and joint filers earning USD 526,000. This tax rate is higher than any others in the United States. The anti...