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2020 Year-End Tax Planning

2020 Year-End Tax Planning

Tax Planning At the End of a Year Like No Other As the end of 2020 approaches, we can all agree that this year is unlike any other. The coronavirus pandemic and natural disasters have had a significant impact on the tax situation for many taxpayers. In response to the health and economic impact of […]

Foreign Earned Income Exclusion: Eligibility, Waiver, and COVID-19

Foreign Earned Income Exclusion: 2019 Perspective and COVID-19

Foreign Earned Income Exclusion: Time Travel Modern day foreign earned income exclusion has its origin in 1926, when Congress enacted its predecessor as part of a strategy to help American businesses expand overseas by incentivizing Americans to work and live abroad.[1] The exclusion is still the best-known, although sometimes misunderstood, tax benefit available exclusively to […]

Expatriate's Perspective on Pandemic Relief-Update

IRS Expands Automatic Postponement of Due Dates

The IRS issued Notice 2020-23 on April 9, 2020 to expand the automatic postponement of due dates for filing and paying federal taxes, which we discussed in our last newsletter. Most notably, postponement under this new notice is no longer confined to federal income tax returns and payments that are due on April 15, 2020.[1] […]

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