Individual Income Tax

US Expats: Things to keep in mind while filing your Taxes

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Filing taxes on time and being in the good books of the IRS is a big thing. With, so many rules and regulations to keep in mind, it is only human that we [...]

Investing in Indian PFIC? Ensure You Report Them

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The IRS mandates that the citizens and residents of the United States need to pay taxes on all their global income. Thus, if you are a US permanent resident [...]

Just In! This year’s list of the “Dirty Dozen” tax scams- Part II

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In our previous blog post, we had highlighted 6 of the first 12 scams present in IRS’ Dirty Dozen List for the year 2019. The Dirty Dozen is a list of [...]

Just In! This year’s list of the “Dirty Dozen” tax scams- Part I

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An annual ritual of the IRS, Dirty Dozen is a list of possible tax scams that innocent taxpayers can easily fall prey to. This list becomes especially [...]

Are 401K Savings Deductible From Your Taxes?

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The 401K is an employer-sponsored plan that allows an individual to replenish their retirement funds in a tax-sheltered manner. The limit is set to be [...]

Is your client the subject of an FBAR examination?

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FBAR or Foreign Bank and Financial Accounts report is required to be filed by a person residing in the USA, a domestic partnership, a domestic corporation, [...]

Demystifying Life Insurance – one myth at a time

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Life Insurance policies are often surrounded by a canopy of myths and confusion. This is mostly due to a lack of awareness which leads to a lot of hesitant [...]

Tax Credit and Tax Deduction – what’s the difference?

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How many times have you heard the terms “tax credit” and “tax deduction” being used while wondering if they mean the same thing? Well, let us clear [...]

Super bowl fans, here are some football tax tips for you!

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It’s that time of the year again - the season for bragging rights, the season to watch your old heroes test their mettle while new ones are born. Yes, we [...]

IRS recalls half of the employees this tax season

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With the US Government going through a shutdown, a lot of government workers have been furloughed. This includes the IRS too, which lost its funding for the [...]