Re-emergence of Estate Tax in 2011

Anyone whose estate is valued at more than $1m might wishfully contemplate dying this year. That is if they intend to leave property to their heirs. Because on 1 January 2011, the federal estate tax is scheduled to re-emerge with a vengeance and impose a 55% levy. From 2001 - 2009, ... continue reading

American Expats and Social Security

The eligibility of American expatriates and their families to receive US Social Security benefits depends on understanding the qualifications. Citizens of most European countries may receive benefits but not US citizens residing in Cambodia, Vietnam, Cuba, North Korea or certain areas of the former Soviet Union. Survivors or dependents who ... continue reading

IRS TAX AMNESTY

Earlier this year, the Internal Revenue Service had in place a tax amnesty. In former times, a tax amnesty might have signified forgiveness of taxes. Tax debtors found their obligations to the governing authority wiped clean. The populace then felt good about their governors and, if anything, more readily paid ... continue reading

US Tax Filing Requirement Imposed on Nonresidents

Recently the friend of a client posed the question whether a US non-resident alien has to file a US tax return based on interest earned on an account in the US? To understand this tax filing requirement, it is first necessary to distinguish between resident and non-resident alien status. A resident ... continue reading