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IRS Defers Tax Payments Due to Coronavirus

It’s not often that we receive good news regarding federal income taxes.  In the current state of global pandemic crisis, we all could use a little good news. Thanks to the Internal Revenue Service and the Department of Treasury, we are happy to share bit of good news. In response to the COVID-19 outbreak, the...

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US Tax Deadline for Resident Alien Living Overseas

If you are a US citizen, green card holder, or in the military (on duty) residing outside the United States and you have earned income in the United States for the year 2017, you are required to declare such income in the United States. The normal filing deadline of April 15, 2018 is automatically extended...

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2018 Individual Tax Deadline

If you haven’t applied for an extension, e-file or postmark your individual tax returns by midnight April 18, 2018. Need more time to prepare your tax return? File your request for a tax extension by April 17 to push your tax deadline back to October 15, 2018. In 2018, the traditional April 15 Tax Date...

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Filing taxes as a foreigner

Whats an Individual Tax Identification Number (ITIN)? In today’s global economy, business ventures increasingly reach overseas to leverage the established business operations and processes in new markets. Every year, more and more people decide to bring their business to the United States. If these individuals are not U.S. citizens, they are still required to file taxes...

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Tax Deductible Business Expenses

We get a lot of questions about which travel expenses are considered tax deductible business expenses. According to the Internal Revenue Code (IRC), certain expenses associated with travel are tax deductible. Not all travel expenses are tax deductible, but there are more tax deductions available than just the plane ticket. For example, the cost for...

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Tax Deductible Attorney Fees

It’s Tax Deduction Awareness Month here at Boyer Law Firm! Attorney’s fees paid to help your business or for income-producing matters in general are tax-deductible expenses. Whether the attorney’s fee is tax-deductible ultimately comes down to the nature of the work performed and who the actual client it. Here are some examples of Tax Deductible Attorney Fees: Tax-Deductible...

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US-Canada Income Tax Treaty

Due to its proximity with one another, people often commute to Canada or to the U.S. to work or they may temporary work in one country for a short period of time. The US-Canada Income Tax Treaty, signed in 1980, was established in order to eliminate double taxation and to ensure that people are not...

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FIRPTA Withholding Rate Increase

If you are a foreign individual and you are selling your property, or if you are a buyer purchasing property from a foreign seller, then you are likely subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). In the past, settlement agents were required to withhold 10% of the sale price...

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Overdue Taxes Can Revoke Your U.S. Passport

A new law was recently passed that means overdue taxes can revoke your U.S. passport. This new law can take passports away from thousands of Americans if they take too long to pay their taxes. The new law is in effect and allows the federal government to revoke, deny, or limit a U.S. citizen’s passport if the person owes...

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