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Extra Update – Second Individual Stimulus Payments – What US Expats Need to Know
“It’s not the thought that counts. It’s the thoughtful thought that counts” - John Ruhlin President Trump signed the coronavirus economic relief package on Sunday December 27The relief package includes a second round of $600 direct payments to individualsThese direct...
What US Expats and Immigrants Need to Know About the Second Stimulus Payments
The problem with the long view is that you have to survive the short term to get to the long term - John Authers Whether you celebrate Christmas or just New Year’s, the Holidays are coming early this year, and not a moment too soon! Congress has finally agreed on the...
The Ultimate Tax Guide: Know your tax forms: Schedule E and Rental Income
In the past two posts we covered the first 8 out of the 20 most common tax forms used by taxpayers who need to report foreign income and/or assets to the IRS. Today, we are going to talk about Schedule E. Schedule E is common enough and tricky enough that it merits...
The Ultimate Tax Guide: Key Insight #15 – Do you know all your tax forms? Part II
In our last post, we started going over the 20 most common tax forms that taxpayers with foreign income and assets typically use to report those assets and income to the IRS. We have already covered the following forms: (If you missed our previous issue, you can...
The Ultimate Tax Guide: Key Insight #15 – Do you know all your tax forms? Part I
Last week we talked about year-end tax planning. This week we are going to discuss tax forms that every US taxpayer with foreign income or foreign assets needs to know. One of the key tax principles we have been discussing since...
The Ultimate Tax Guide: Biden is president-elect: should I do any year-end tax planning?
Since we are approaching December, I thought it would be a good time to discuss a few 2020 year-end tax planning tips. This is a challenging year for tax planning because….surprise!.....in unsurprising 2020 fashion, we still have a lot of uncertainty in the horizon....
I received a gift or inheritance from overseas: Does the IRS need to know?
This week, we are going to talk about reporting requirements for US tax persons who receive a foreign gift or inheritance from overseas (Form 3520). Last week, an observing tax pro colleague noticed that the IRS had quietly made a change on their website, impacting...
Help! I am a Swiss resident with a US trust – Part II
Last week we discussed trusts, what they are used for and that Swiss resident US citizens usually need a Swiss tax ruling to determine how their US trust will be taxed in Switzerland. We further explained that Switzerland will typically classify US trusts as revocable...
Help! I am a Swiss resident with a US trust
We are taking a break from The Ultimate Tax Guide this week and next week to answer, in two parts, a question I received from a reader. We’ll get back to our 37 Tax Insights in a couple of weeks when we will start discussing foreign tax credits. The issue we will be...
The Ultimate Tax Guide – Tax Insight #12 – FBAR and FATCA, Happy 50th birthday FBAR!
This is the third installment of our series covering the differences between FBAR and FATCA reporting for US taxpayers. FBAR and FATCA FAQs #11-20 11. Can I file a joint FBAR with my spouse? Yes. But there are conditions. Married couples can file a joint FBAR to...

Marina Hernández
The Crossborder Planner
After spending the first 24 years of my life quietly living in the same little neighborhood in my native Argentina, I came to the USA for just 4 months to study finance. Well, that was the plan. In very predictable fashion, the unpredictable happened…