Global Feed

Happy World Emoji Day! It's held on July 17 each year as a way to promote the use of emojis — like we need to do that! — and, according to Emojipedia (really!), spread the enjoyment that the colorful icons bring. The enjoyment goal got me thinking of how emojis might make one of our worst tax tasks more pleasant. I'm talking, of course, about our annual filing of returns. Most of us already use tax software. Surely it wouldn't be that difficult to incorporate the option of adding emojis to the lines we fill electronically complete. Dressing up your... Read more →


That colorful glob pictured above is Tropical Storm Bret. It formed this afternoon, kicking the 2017 Atlantic-Gulf of Mexico hurricane season into a higher gear. While images from the National Oceanic and Atmospheric Administration can give us — and by us, I mean professional meteorologists — an indication of a storm's strength, what you and I really want to know is where the heck is this mess? Tropical Storm Bret is born: The purple map lines in the image are a bit hard to see, but my U.S. readers can breathe easy, at least for now. Bret is off the... Read more →


It may be summer, but for some folks, Tax Day is coming up again on Thursday, June 15. That day is the deadline that millions of Americans face to pay their second estimated tax amount for the 2017 tax year. It's also the due day for U.S. taxpayers living abroad to file their 2016 tax returns. Estimated tax time again: The U.S. tax system is based on the premise that the U.S. Treasury gets its portion of individual taxes as we earn our money. For most of us, that happens via payroll withholding from our checks that we get from... Read more →


Most Americans living abroad don't like the U.S. requirement that they have to send the Internal Revenue Service a Form 1040. That's one of the findings in Greenback Expat Tax Services most recent annual survey of U.S. expatriates. If your trip abroad turns into something more permanent, you'll have many U.S. expatriate issues to consider, including taxes. (Photo courtesy Those Dam Americans blog) Sixty-six percent of expats queried earlier this year told Greenback they don't believe they should be required to file a U.S. tax return while they are living outside Uncle Sam's borders. That more than two-thirds percentage is... Read more →


David Beckham made part of his estimated $450 million net worth as an underwear model. With big bucks like that, it's no wonder he went looking for ways to lower his Great Britain tax bill. But one attempt looks like it could cost him. (Billboard photo by torbakhopper via Flickr) Some major sports and entertainment stars face tax bills after United Kingdom tax officials rule a film venture they invested in was a tax avoidance scheme. David Beckham, whose international celebrity status continued beyond the football (soccer for my U.S. readers) pitch (field for my U.S. readers), and his wife... Read more →


Donald J. Trump's first official overseas trip as president included a stop in Italy. He's back in Washington, D.C., now, but that country and a tangential tax connection to Trump has popped up in international news reports. Thomas J. Barrack Jr., a real estate mogul and friend of Trump, reportedly is under investigation by Italian authorities for alleged tax evasion. Thomas Barrack, founder of Colony Capital, in a 2012 interview with The Leap TV discussing making movies and deals, such as saving Michael Jackson's Neverland Ranch from bankruptcy. (Click image to watch YouTube video clip.) Luxury resort sale alleged Luxembourg... Read more →


Memorial Day in the United States is the biggest day in motorsports worldwide. The starting lights in Monte Carlo signal the beginning of the glamorous F1 race in Monaco. Next, the green flag drops at Indianapolis Motor Speedway to get the cars rolling in the Indy 500. The day wraps up with the checkered flag in Charlotte, North Carolina, marking the end of NASCAR's longest race of its season. While race fans across the globe will watch at least some of the races, law enforcement officials in Thailand and the United Kingdom are focusing on other vehicles. Pol Lt-Colonel Korrawat... Read more →


In an exclusive NBC News interview with Lester Holt, the president mentioned the letter, released today, that discusses what his attorneys say show only tangential connections to Russian money. Click image to watch the full NBC news interview. Still no Donald J. Trump tax returns, but today we got another letter from his lawyers regarding his taxes, specifically whether there was any Russian-sourced income on his filings over the last 10 years. The letter, from partners Sheri Dillon and William Nelson of the Washington, D.C., branch of international law firm Morgan Lewis, was addressed to Trump and "hereby confirm[ed] the... Read more →


People who live in storm ravaged areas of Georgia, Louisiana and Mississippi have enough to worry about, so the Internal Revenue Service says they don't have to worry about filing their taxes next Tuesday. Neither do U.S. military personnel who are in combat zones. A Federal Emergency Management Agency (FEMA) worker assesses damage in Georgia from late January 2017 storms and tornadoes. (Photo courtesy FEMA Facebook) Major natural disaster victims: Taxpayers in several areas deemed major disasters — the IRS keeps a running list of tax-affected disaster areas —qualify for more time to file their tax returns and pay any... Read more →


As if you and your tax adviser weren't already crunched enough in April, this filing season there's a new deadline for folks who have money or other assets in foreign accounts. FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), is now due on the regular federal individual tax return's April deadline — that's the 18th this year because the 15th is on Saturday and Emancipation Day falls on Monday, April 17 — instead of June 30 as it has been in previous years. The good news is that your FBAR filing can be extended until October. And... Read more →


The Congressional investigations into alleged improper Russia-Trump Administration connections are attracting worldwide attention. Click image to watch the NBC News clip of Vladimir Putin paraphrasing a famous U.S. tax quote. Even Vladimir Putin, Russia's president and Donald J. Trump's sometimes bromantic partner, chimed in on the issue of his country's hacking of computers during America's 2016 presidential election. "Ronald Reagan, debating about taxes and addressing the Americans, said, 'Watch my lips.' He said, 'No. Watch my lips. No,'" Putin said through an interpreter during a CNBC-moderated discussion March 30 at the annual Arctic Forum in the Russian city of Arkhangelsk.... Read more →


Did you hear the Amazon.com tax news? No, I'm not talking about the online retailing giant's decision to collect sales tax in all the U.S. jurisdictions that have the levies. A U.S. Tax Court ruling on Internal Revenue Service attempts to collect more tax from an Amazon U.S.-Luxembourg arrangement went the global internet giant's way, saving it billions in taxes. The Seattle-based company also was a big winner last week when it comes to paying tax. We're talking $1.5 billion big. That's how much a U.S. Tax Court ruling on March 23 apparently has saved Amazon. European location, U.S. taxes:... Read more →


The United States and Canada share more than the world's longest undefended border. They also share attacks by cyber criminals on their online tax systems. A sign at the point where the railroad crosses the U.S.-Canada border at Peace Arch Park. This is the westernmost point on the continuous main section of the border. (Photo by Vmenkov via Wikimedia) Canada Revenue Agency’s website was down from the afternoon of Friday, March 10, until 5 p.m. Sunday, March 12, after tax officials discovered the site had a security vulnerability. South of the 49th parallel on Thursday, March 9, the Internal Revenue... Read more →


Today, March 8, is International Woman Day. In addition to recognizing women's contributions, some people in the United States also are participating in "A Day Without A Woman," asking women to stay home from work. Men and women shoppers often pay different prices for essentially similar products. And yes, the higher prices, known as the Pink Tax, are on items aimed at women. If that's not possible, which is the case for lots of folks regardless of gender, then supporters of today's added commemoration ask that women not shop to underscore our contributions to the economy. Women's $$$ contributions: And... Read more →


Whenever I want to escape the crazy that is real life, I turn to the movies. Sometimes it's my favorite tax-themed films. Amanda Abbington and Martin Freeman, pictured here on the set of "Sherlock" with Benedict Cumberbatch, who plays the show's title character behind them, have separated. (Photo courtesy PBS Masterpiece) Other times when I can't get away for a couple of hours, I surf entertainment news. Go ahead, judge me. Then admit you've done the same! In perusing the web recently, I stumbled across a list of celebrity couples who have split. In addition to the usual Brangelina and... Read more →


Sunday is a big day not just for football fans, but also food fans. Super Bowl party snacks rank right up there with the specially-created television commercials, crazy prop bets and the game's halftime show. These items I regularly purchase are, according to my local H.E.B. grocery store's labels, hecho en Mexico. Heck, a lot of people look forward to those events more than the annual NFL championship game itself. Literally loading up on guac: In fact, it's a major day for guacamole. "Guacamole has become one of the most popular Super Bowl snacks," Ramon Paz, spokesman for the Association... Read more →


President-Elect Donald Trump is feeling charitable again. This time, it's Uncle Sam who's the target of his largesse. President-Elect Donald Trump and his three older children (Eric, Ivanka and Donald Jr.) get ready to meet the press this morning (Jan. 11) to discuss Trump Organization business deals after The Donald is sworn in on Jan. 20. (Photo by Evan Vicci via TPM Twitter post) During the almost hour-long press conference at Trump Tower in Manhattan (Trump's first Q&A with the media since July 16, 2016, when he was on the campaign trail), a tax attorney for the incoming 45th president... Read more →


China has enacted a series of taxes on various types of industrial pollution. But to the dismay of even some of its own government researchers, carbon dioxide and other greenhouse gases are not included in the tax plan. Some specific emissions could mean tax bills for Chinese companies under a new pollution tax law just enacted by that country. (Photo by Graeme Maclean via Flickr CC) Still, for the first time ever, public institutions and companies that discharge listed pollutants directly into the environment will face specific environmental protection taxes. Some air, water pollutants targeted: Under the law passed Dec.... Read more →


Working overseas can be a wonderful professional and personal opportunity. It also can present some tax problems. The United States has a worldwide tax system. That means that regardless of where you earn your money, if you are a U.S. citizen or resident alien, you owe taxes to Uncle Sam. The bad news is that the Internal Revenue Service is serious about getting this money. The good news is that there are some income tax benefits for U.S. workers abroad. Excluding income abroad: The most notable one is the foreign earned income exclusion, or FEIE. This allows workers abroad who... Read more →


What's your favorite currency? I'm not talking dollar value, but which one do you find more appealing aesthetically? Here in the United States, our bills are not that attractive when compared to some of the flashier forms of legal tender worldwide. But we try. U.S. $$$ history: In 1929, America's dollars got a major remake, primarily to lower manufacturing costs, according to the U.S. Treasury's history of our money. Back then, all Federal Reserve notes were reduced in size and standardized designs were instituted for each denomination, decreasing the number of designs in circulation and making it easier for the... Read more →