Here’s a basic chart itemizing the 2021 American Rescue Plan’s new rules, differentiating between the US and non-US residents.
We wanted to share some of the changes from the past year for the 2021 Tax Year. Three new Acts have been passed and discussed in the past year:
If you are investing in crypto currencies, then protect your investment by staying in compliance with the tax authorities. This includes the IRS and the Israel Tax Authority. The guidelines below are per IRS guidelines.
Many people have received “gifts” from the IRS in the form of an unexpected bank deposit or check in the mail. Unfortunately, many of these recipients are not eligible for these payments and will need to return the money to the IRS when they file a 2021 tax return.
FIRPTA was enacted to ensure that foreign investors pay U.S federal income tax on the sale or disposition of U.S real property interests (USRPI).
The Foreign Earned Income Exclusion, or FEIE, is a tax benefit that allows you to avoid double taxation by excluding income earned in a foreign country from your taxable income for U.S. purposes.