Editorial team of TFX
Articles
TFX introduces tax services for small businesses
TFX (Taxes for Expats) has expanded its service offering to cater to the needs of US small businesses. Despite this expansion, the company’s commitment to serving American expats has remained unchanged. Taxes for Expats has been a reliable name in the US expat ta...
Updated RMD guidelines effective from 2025: What you need to know
The IRS has released updated guidance on Required Minimum Distributions (RMDs) for certain retirement accounts, with changes set to take effect in 2025. This new guidance clari...
Updated IRS guidelines for inherited retirement accounts
The IRS has announced an extension through 2024 for the enforcement of required minimum distributions (RMDs) from certain inherited retirement accounts. This decision allows heirs additional time to strategically plan their withdrawals, following changes made by legislation in 2019. Detailed implications for ...
Understanding tax extensions and payment obligations 2024
As tax season approaches, it's crucial for taxpayers to understand the implications of filing for an extension. While an extension provides additional time to file your tax returns, it does not grant extra time to pay any taxes owed. Here's a structured breakdown to help you navigate this important distinction: ...
IRS reminder to taxpayers affected by terrorist attacks in Israel: reliefs available
The IRS is reminding taxpayers affected by the terrorist attacks in Israel that the deadline for filing their 2023 federal income tax returns and making payments has been extended to October 7, 2024. This extension applies to individuals who live in the United States and were either injured in the attacks or are the survivors of individ...
IRS offers tax relief for Maine and Rhode Island taxpayers affected by severe storms and flooding
The IRS has announced tax relief for taxpayers in Maine and Rhode Island who were affected by severe storms and flooding. The relief includes extending various tax deadlines to July 15, 2024. Also read – ...