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COVID-19 & 2020 IRS Tax Deadlines --- What You Need To Know

We are in uncharted territory and the IRS and Treasury are acting accordingly to help businesses and individuals. There have been a few extensions of filing deadlines which we will outline below. Importantly, everything is fluid and there may be new changes. We will update as new information comes in. The IRS has created a ...

Changes to US Retirement System after the SECURE Act

SECURE ACT 2019 The House advanced broader Spending Bill including the SECURE ACT OF 2019 to the Senate, and then to the President for approval by Dec. 20. The law will create sweeping changes that will immediately affect retirees and savers. ...

French Tax White Year - Impact on 2018 U.S. Tax Filings

France transitions to PAYE (Pay As You Earn) Starting from January 1, 2019 , French employers with start withholding tax from paychecks.This is a transition from the current payment in arrears to Pay As You Earn (PAYE) basis. French tax authorities have set ...

Who Are the Big (Tax) Winners Ahead of the 2018 Filing Year?

US Government wins The majority of individuals filing US tax returns will pay more tax after the Tax Reform. The tax increase will affect US citizens, green card holders, as well as non-resident aliens with income from US sources. However, certain categories...

Extra, Extra, Time to Renew Your ITIN!

Is your ITIN set to expire? 9XX-73-NNNN or 9XX-75-NNNN - Does your ITIN look like this? It may be expiring on Dec 31 2018 . All ...

OVDP Ending - Streamlined Procedure Still Ideal Amnesty Program

OVDP Ending - non-event for most expats The famed OVDP program is nearing its end on Sep 28, 2018. We at TFX have not been fans of OVDP because of the draconian penalties attached, as well as the high compliance fees (read: lawyer fees...