FATCA

Renouncing U.S. Citizenship in 2025

Renouncing U.S. Citizenship in 2025: Process, Exit Tax, and Form 8854 Explained

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Can an individual renounce their U.S. citizenship, and what are the associated tax consequences? Renouncing U.S. citizenship constitutes a significant personal and financial undertaking. While the procedural steps are relatively straightforward, individuals who choose to renounce citizenship must comply with rigorous tax regulations enforced by the U.S. government. It is imperative to gain a comprehensive …

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Fincen11a Foreign Bank Account Reporting

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What Is FBAR? The FBAR stands for Foreign Bank Account Account Reporting An FBAR is a Report of Foreign Bank (Non USA based bank account and Financial Accounts form also known as FinCEN Form 114 Who Needs To File FBAR? All U.S. person (U.S. citizens, green card holders, resident aliens) is required to file FBAR …

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DOES FATCA APPLY FOR INDIVIDUAL TAXPAYER?

DOES FATCA APPLY FOR INDIVIDUAL TAXPAYERS?

Leave a Comment / FATCA, US Tax

The word FATCA may sound bit scary these days as your local banks and other investment financial institutions use this terminology a lot and ask you to complete additional paperwork subject to be FATCA compliance rules, and this could beproviding your foreign tax I.D. details your for example ( National Insurance number or Unique tax …

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COVID-19 IMPACT U.S TAX FILING DATE EXTENDED

COVID-19 IMPACT U.S TAX FILING DATE EXTENDED

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Dear TAH clients, We hope you are all well and staying safe while the world is under the spin. During this challenging time, we are committed to keeping you informed on relevant US tax updates for our individual US Expatriates clients. Our team continues to work from home, doing our best to help our clients …

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What EIN look like?

How Long Does it Take to Get EIN Issued?

Leave a Comment / EIN, ITIN, US Tax

An Employer Identification Number (EIN) is necessary when you need to make a deposit or file return and it is always suggested to obtain an EIN earlier to avoid the hassle. Overview An Employer Identification Number (EIN) is also known as a federal tax identification number and is used to identify a business entity. It …

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Are EIN and TIN the same

Are EIN and TIN the same?

Leave a Comment / EIN, ITIN, US Tax

There are many acronyms used by the IRS to identify the types of taxpayers and they are quite confusing for someone new, in this blog, we can discuss EIN and TIN. EIN and TIN are both used for business purposes meanwhile SSN and ITIN is used to identify yourself. EIN (Employer Identification Number) An Employer …

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What EIN look like?

What EIN look like?

Leave a Comment / EIN, ITIN, US Tax

An Employer Identification Number (EIN) is also known as a federal tax identification number and is used to identify a business entity. EIN is a unique nine-digit number issued by the IRS and includes information about which state in which the corporation is registered. An EIN looks like the following format: XX-XXXXXXX.The first two numbers …

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