Payments made by U.S. citizens and resident aliens (“U.S. persons”) to non-U.S. persons are typically subject to U.S. tax withholding and result in U.S. tax reporting requirements. These requirements can be difficult to understand and a misstep can prove to be very costly.
U.S. Tax Withholding
Whether a U.S. person is required to withhold tax depends on [...]

Taxes are not as sexy as investments, yet alone real estate, retirement plans, or even insurance. This is understandable, as taxes do involve paperwork, forms, and rules, exceptions, and exceptions to exceptions. But that is not the whole picture.
Think about it this way. If the average person spent two hours per week thinking and reading [...]

Receiving a letter from the IRS can be scary. Receiving a letter from the IRS that says that your tax return has been selected from audit can be even scarier. It shouldn’t be.
The IRS audit process is merely a means for the government to determine that taxpayers have reported and paid tax as [...]

Many taxpayers dread the thought of having to compete federal tax returns.  While our tax laws can be a bit complicated, the Form 1040 and Form 1040 instructions actually do a pretty efficient job in helping taxpayers navigate these laws.  Understanding the structure of the Federal Income Tax Form 1040 goes a long way in [...]