CP2000 Notice – What It Is and Recommended Next Steps
If you’ve opened your mail and found a CP2000 notice from the IRS, you’re not alone and more importantly, you’re not necessarily in trouble. Every year millions of taxpayers receive this automated “under-reporter” notice. Despite the scare of receiving mail from the IRS, a CP2000 is not an audit. Instead, it’s the IRS notifying you […]
Form 8621 – Solving the PFIC Headache
If you hold foreign mutual funds, ETFs, or similar investment products, you may have stumbled across one of the most dreaded forms in U.S. international tax compliance (Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company (PFIC)). For Americans abroad and U.S. investors with offshore holdings, this single form can turn […]
Foreign Earned Income Exclusion vs. Foreign Tax Credit
Ahh the lovely world of US expat taxation… For U.S. citizens and green card holders living abroad, one of the most important tax planning decisions is the battle between the Foreign Earned Income Exclusion vs. Foreign Tax Credit. Both provisions are designed to prevent double taxation on income earned overseas, yet they work in pretty […]
Key Changes Under the One Big Beautiful Bill Act – What Individual Taxpayers Need to Know
On July 4, 2025, the One Big Beautiful Bill Act (Public Law 119-21) was signed into law. It represents one of the biggest changes to the tax code in years and has been driving a lot of our recent client conversations. A few provisions long set to expire have been extended or made permanent, while […]