U.S. Tax Tips
Mar 19, 2021
In this U.S. Tax Tip we are going to look at expanded Form 8858. Form 8858 has grown, over the years, into a comprehensive and complex filing. This U.S. Tax Tip is not meant to be a comprehensive review of Form 8858 nor an in-depth analysis of relevant U.S tax law. A treatise could be written with respect to each. Rather, in light of the expanded January 1, 2018 filing requirement and the lack of specific IRS guidance we wish to highlight some issues that our readers may not be aware of. Unfortunately, as is typical, neither Congress, the United States Treasury nor the Internal Revenue Service consider the impact of these rules (and the associated compliance costs) on U.S. persons who live abroad. A lot of information is required to accurately complete the form and significant penalties may apply for non-compliance.
Mar 18, 2021
On March 17, 2021, the U.S. Internal Revenue Service (“IRS”) issued IR-2021-59 whereby the U.S. Treasury Department and the Internal Revenue Service announced that they have automatically extended the individual federal income tax filing deadline to May 17th, 2021 from the original due date of April 15, 2021.
Feb 05, 2021
Welcome to the New Year and our first Cadesky U.S. Tax Tip for 2021. Everyone here at Cadesky U.S. Tax hopes that you, and your loved ones, managed to keep safe (as much as possible!). It has certainly been an interesting start for 2021!
On January 5, 2021 the State of Georgia held runoff elections for their two Senate seats. Republican David Purdue and Democrat Raphael Warnock, led the respective popular vote held on November 5, 2020.