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FBAR Penalties 2020
In 2019-2020, FBAR Penalty Enforcement is at an all-time high. If a person does not timely file their annual FBAR with FinCEN in the current year, they may be subject to FBAR Penalties -- but the penalties may be reduced or even eliminated through reasonable cause or...
IRS payment options and other tools
Taxpayers have a variety of options to consider when paying federal taxes. This year, in response to the COVID-19 pandemic, the filing deadline and tax payment due date was postponed from April 15 to July 15, 2020. All payment options are available...
How soon the IRS could send the second stimulus checks
The White House has a plan to send your second stimulus payment faster than the first check went out. We worked out some possible dates of when this might happen, whenever Washington agrees on a new stimulus package. The debate over the next stimulus package seemed no...
CARES Act 2: When could the IRS send the second stimulus check?
What is today's status on the next check for Americans and how soon could you get the second payment from the IRS? The Senate proposal for the next stimulus package will be revealed on Monday, according to Senate Majority Leader Mitch McConnell and it will come with...
The IRS continues to help people with low income or no income get an Economic Impact Payment
This special edition of Outreach Connection is dedicated to resources and materials aimed to help reach millions of low-income people, the homeless and others who aren’t required to file a tax return but may be eligible for an Economic Impact Payment of $1,200 or...
How and when you should report your no-show stimulus check to the IRS
Getting tired of waiting for your lagging stimulus check is one thing. But if you truly think it's gone missing, we can provide some information about important next steps. Still no stimulus check? Your first instinct might be to contact the IRS to report your late...
The important US Income Tax Return Deadlines for this year 2020
The official tax deadline to file your federal income tax return each year can be a little shifty. Yes, it's supposed to be April 15—unless something interferes with that timing, like the date falling on a weekend or a holiday. Tax deadlines are moved to the next...
The Economic Impact Payment figures up to May 22, 2020
The Treasury Department and the Internal Revenue Service released updated state-by-state figures, including Foreign Addresses, for Economic Impact Payments reflecting the opening weeks of the program. "Economic Impact Payments have continued going out at a rapid rate...
U.S. Tax Consultants Opening in Portugal
Although we already had clients in that market, we want to get our solutions and know-how to more U.S. expatriates residing in Portugal. To do this we started a campaign on social networks informing about the services of our company. One more step in the long history...
Form 1040 – US Individual Tax Return for all US citizens
You must file a Form 1040 is you are a US Person (US citizens, Green Card holders and resident Aliens), no matter where you live or if you pay taxes in a foreign Country. Normally the deadline for filing is April 15th but this year has been extended for everybody...
Modelo 100 IRPF – Spanish Income Tax Return and Wealth Tax (Modelo 714) for residents in Spain
The deadline for filing the Spanish return this year will be from April 1 to June 30. The coronavirus does not alter the initial calendar of the AEAT to liquidate the Personal Income Tax and Wealth Tax. One of the novelties this year is that the identification of the...
Why you were not able to get your “stimulus check”.
Many American citizens living abroad have not yet received pandemic relief payments because of administrative and technical difficulties. In a letter sent a few days ago, American Citizens Abroad (ACA) urged the IRS to streamline the application process and to mount a...
All you need to know about the Economic Impact Payments – “Stimulus Check”
Who Is Eligible and How Much Will You Get? You are eligible if you are US citizen and US residents Aliens with a valid SSN, could not be claimed as a dependent of another taxpayer and had Adjusted Gross Income (AGI) under certain limits. It does not matter where you...
Economic Impact Payments – “Stimulus Check” Update your bank account or mailing address
The IRS is committed to helping you get your Economic Impact Payment as soon as possible. The payments, also referred to by some as stimulus payments, are automatic for most taxpayers. No further action is needed by taxpayers who filed tax returns in 2018 and 2019 and...
Non filers might also get the “Stimulus check”!!!
The IRS launched a solution that allows taxpayers who don’t normally file a tax return (i.e. income is under the filing threshold) to provide the minimum information required for purposes of receiving Economic Impact Payments (commonly known as stimulus checks). This...
Stimulus Checks COVID-19: Who Is Eligible and How Much Will They Be?
Agreement reached early on Wednesday will give money to most Americans, small-business loans and help for hard-hit industries. Senate plan would send $1,200 checks to many, including Social Security recipients The Senate voted unanimously late Wednesday (March 26th)...
IRS Tax Filing and Payments Delayed Until July 15, 2020
COVID-19 Pandemic delays and date changes. President Trump declared a national state of emergency due to the COVID-19 pandemic. The IRS has issued guidance that the tax deadline will move to July 15, 2020. We expect this pandemic to cause serious delays in processing...
Prestación extraordinaria por cese de actividad para trabajadores autónomos medidas adoptadas por el coronavirus COVID-19. Real Decreto Ley 8/2020
Beneficiarios: · Los que hayan suspendido sus actividades, según el Real Decreto 463/2020 (declaración estado de alarma). En el mismo se especifica la relación de actividades cuya apertura al público se suspende, así mismo el Real Decreto 465/2020 aclara algunos...
Same due date as Form 1040. Do not forget it!
The Foreign Bank Accounts (FBAR) Report changed from using the TD F 90-22.1 paper form to the online FinCEN Form 114. It is used to report financial interest in or signature authority over foreign financial accounts and is an information return only, so there will be...
Do not wait until last minute!
April 2nd will start the filing season for the Spanish Modelo 100 (IRPF), until June 31st. We will need all your W2 and 1099 from the US financial institutions. The individual tax return campaign in Spain for 2019 will start on April 2nd. We plan to download the...
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