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Maximize Benefits, Minimize Penalties

Maximize Benefits, Minimize Penalties

Unlock the art of tax compliance with finesse. 'Maximize Benefits, Minimize Penalties' is not just a motto; it's a commitment. Our streamlined approach is designed to safeguard your financial integrity while maximizing your returns. We understand that navigating the...

What to Expect from the IRS Refunds This Year

What to Expect from the IRS Refunds This Year

The IRS issues more than 9 out of 10 refunds in less than 21 days. However, it’s possible your tax return may require additional review and take longer. If Your Refund Isn’t What You Expected If your refund amount isn’t what you expected, it may be due to changes we...

FBAR (FinCEN 114) vs Form 8938

FBAR (FinCEN 114) vs Form 8938

The Form 8938 filing requirement does not replace or otherwise affect a taxpayer’s obligation to file FinCEN Form 114 (Report of Foreign Bank and Financial Accounts). Unlike Form 8938, the FBAR (FinCEN Form 114) is not filed with the IRS. It must be filed directly...

Training at US Tax Consultants

Training at US Tax Consultants

Training and updating for continuous improvement at US Tax Consultants. Two weekly team training sessions at US Tax Consultants.  Being updated on tax regulatory changes is a necessity to maintain a priority objective for our company: the level of quality of our...

Treaties on taxation and SS between the U.S.A. and Spain.

Treaties on taxation and SS between the U.S.A. and Spain.

All U.S. and Spanish Treaties to Avoid Double Taxation What is all about treaties or other agreements that regulate taxation. In this document we have tried to gather all the treaties and agreements that Spain has signed with different countries or entities that may...

Everything you need to know about the U.S. Tax Law

Everything you need to know about the U.S. Tax Law

Overview The origins of the US tax laws begin with the Sixteenth Amendment of the United States Constitution. Historically, the U.S. government had relied on tariffs as a source of revenue since the country saw income taxes as controversial at that time. Congress had...

Form 1040 deadlines for 2023

Form 1040 deadlines for 2023

Form 1040 deadlines for 2023. The Internal Revenue Service announced on January 23, 2023, the beginning of the nation's 2023 tax season when the agency will begin accepting and processing 2022 tax year returns. More than 168 million individual tax returns are expected...

NTK Seminar on Fiscal Obligations for U.S. Expats in Spain

NTK Seminar on Fiscal Obligations for U.S. Expats in Spain

Attention all U.S. expats living in Spain! Are you aware of your fiscal obligations as an American citizen living abroad? Join us on Tuesday, March 28th at 6:30 PM for an informative and eye-opening event on the Fiscal Obligations of U.S. Expats in Spain. Our expert...

The Spanish Tax Agency (AEAT) and the false Non-Fiscal Residents.

The Spanish Tax Agency (AEAT) and the false Non-Fiscal Residents.

The Spanish Tax Agency (AEAT), in its press release last week, ratifies its intention to promote this year control over citizens residing in Spain who declare their income through the Non-Resident Income Tax, the IRNR (Model 210), with the intention of artificially...

EU Commision on VAT (IVA) for vacational rentals

EU Commision on VAT (IVA) for vacational rentals

VAT on vacation rentals, mandatory from 2025? The professionalization of the holiday rental sector in Spain is progressing at full speed, with all that this implies, both positive and negative. In one hand, it is worth noting the increasing quality of the offer,...

Do you need to file a federal tax return? Form 1040

Do you need to file a federal tax return? Form 1040

Depending on how much income you got during 2022, you might or might not have to file Form 1040, the U.S. federal income tax. Remember that if you are an expat in Spain, you will probably end paying taxes only in Spain, but that does not exempt you to file the U.S....

FinCEN 114 for spouses & children. Delinquent filers and Penalties

FinCEN 114 for spouses & children. Delinquent filers and Penalties

Who Must File the FBAR? A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year. A...

Understanding the difference between standard and itemized deductions

Understanding the difference between standard and itemized deductions

One of the first decisions taxpayers must make when completing a tax return is whether to take the standard deduction or itemize their deductions. There are several factors that can influence a taxpayer’s choice, including changes to their tax situation, any changes...

Taxpayers should hang up if tax season scammers come calling.

Taxpayers should hang up if tax season scammers come calling.

The tax filing season is a popular time for scammers to call and try to dupe unsuspecting taxpayers. These thieves often make threatening or alarming calls posing as the IRS to try to steal taxpayer money or personal information. However, it’s easy for people to...

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