Posted on November 25, 2019
by
Arthur Dichter
The IRS recently rolled out Relief Procedures for Certain Former Citizens (expat relief procedures), which is intended to help some former U.S. citizens who renounced or intend to renounce their U.S. citizenship come into compliance with their outstanding U.S. tax and filing obligations without incurring additional liabilities. Background on Expatriation Exit Tax There are […]
Posted on November 20, 2019
by
Angie Adames
In an effort to improve tax compliance and the quality of information reported by partnerships, the IRS recently issued updated versions of Form 1065, U.S. Return of Partnership Income, and Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc., for applicable taxpayers to use when filing their 2019 tax returns in 2020. According to the […]
Posted on November 12, 2019
by
Karen Lake
The Florida legislature recently voted to again reduce the sales tax that commercial real estate owners charge and receive from tenants to 5.5 percent in 2020 from its current rate of 5.7 percent. Real property rentals subject to the reduced rate include commercial office space, retail, warehouses and certain self-storage units, excluding storage for motor […]
Posted on November 06, 2019
by
Melissa Fleitas
The past two years have marked significant changes in the way in which businesses and non-profit entities, including hospitals, report their financial performance. Under accounting standards codification 606 (ASC 606), these entities must adopt new methods for recognizing the timing, amount and uncertainty of revenue from and expenses related to contracts with customers. While healthcare […]
For many foreign persons, the U.S. tax system can be a complicated web of conflicting rules and exceptions, making compliance difficult, at best. One of the more complex challenges concerns the manner in which the U.S. imposes tax on foreign persons for income tax and estate and gift tax purposes. In general, the U.S. presumes […]
